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Sprint Q4 Earnings Report Show Loss of 30,000 Prepaid Phone Subcribers

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Sprint recently released its Q4 earnings for the fiscal year. The report showed just how much Sprint needs to merge with T-Mobile in order to stay afloat. As evidenced by its net postpaid phone connections, Sprint managed to lose massive numbers in this field. From January to March, the wireless provider lost a net of 189,000 phone connections. Comparing this with the same period from last year, Sprint was able to add 55,000 connections. Throughout 2018, the provider lost 162,000 postpaid phone connections.

Sprint believes the decline is caused by higher churn and its decline on promotional pricing. Postpaid churn rose to 1.82%, around 14 basis points year-over-year (YOY). There was a bump on postpaid phone lines per account reported by the provider. In Q4 2017, the carrier earned 2.85. In Q4 2018, they earned 2.92.

In addition to its numbers in the postpaid department, Sprint lost around 30,000 prepaid phone subscribers in just a span of three months. This is despite the 170,000 net additions it had the previous year. The company shared that this was caused by their migration from prepaid to postpaid service. Prepaid churn resulted to 4.37%, up 7 basis points YOY.

This quarter also led Sprint to have a net loss of $2.2 billion. But $2 billion from that amount was caused by a charge to write goodwill off of the books. The reason behind this was so Sprint could hold a certain value of assets. This same quarter a year ago, Sprint was able to earn $69 million. Throughout the whole 2018, Sprint reported $1.9 billion net loss after the charge.

You can read the full details of the report here.



Source: PhoneArena 

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1 comments:

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  1. Offering nothing to try to retain all the people on the BYOP free year (postpaid) as their year expired certainly "helped" those #'s.

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