Sprint Nextel reports loss as revenue falls

KANSAS CITY, Mo. (AP) — Wireless carrier Sprint Nextel reported a second-quarter loss on Wednesday, citing severance and other costs. But the company said it had slowed customer defections.

Sprint Nextel, which has a call center in Winona, lost $344 million, or 12 cents a share, in the quarter compared with $19 million, or 1 cent a share, in the period a year ago.
Not counting one-time items, Sprint Nextel said it would have earned 6 cents a share, beating the 3 cents a share expected, on average, by analysts surveyed by Thomson Financial.

Revenue in the quarter fell about 11 percent to $9.06 billion, below the $9.17 billion expected by analysts.

Sprint Nextel’s wireless business reported a 12.5 percent decline in revenue to $7.7 billion as it lost a net of 901,000 subscribers, including 776,000 postpaid customers who pay monthly bills. That was an improvement from the first quarter, when the company lost 1.1 million subscribers.

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