Sprint Nextel has reported total net revenue of $8.3bn for the first quarter of 2011, compared to $8.1bn for the same period last year.
The company’s net wireless operating revenue for the first quarter increased by 5% to $7.4bn from $7.1bn for the same quarter last year.
For the first quarter ended 31 March 2011, the company posted an operating income of $259m, compared to an operating loss of $180m last year.
The company reported a net loss of $439m for the first quarter 2011, against a net loss of $865m in the year-ago quarter, and net loss per share was $0.15 compared to loss per share of $0.29 in the same period last year.
The company added more than 1.1 million total wireless net subscribers driven by prepaid net subscriber additions of 846,000 and net postpaid subscriber additions of 310,000 for the Sprint brand.
Sprint also achieved postpaid churn of 1.81% and the lowest prepaid churn of 4.36% in over five years.
Sprint CEO Dan Hesse said the company maintained the momentum they had exiting 2010 with net subscriber additions of 1.1 million and best ever postpaid churn and growing net operating revenues.
"We’ve added two million wireless subscribers over the past two quarters. Our simple and unlimited plans, 4G leadership, strong customer service, and successful multi-brand strategy drove solid Sprint performance for the quarter," Hesse said.
