Sprint Nextel has widened its loss by 47 percent to $478 million, or 17 cents per share, in the third quarter from a loss of $326 million, or 11 cents per share, in the year ago period. The company posted revenue of $8.0 billion, down 9 percent since the same period last year.
The company lost 801,000 post-paid subscribers and churn increased to 2.17 percent from 2.15 percent in the year ago period. Sprint’s ARPU stayed flat at $56 and says that it has stayed stable because of its flat-rate bundled plans.
Sprint forecasts that subscriber losses should improve this year and noted that it achieved its best net retail subscriber results in more than two years.