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Last Update: 08-Feb-12 09:53 ET
S Down Almost 5% After Sell-off
Earlier this morning, Sprint (S $2.33 -0.12) reported a fourth quarter loss of $0.43 per share, including items, $0.07 worse than the Capital IQ Consensus Estimate of ($0.36).
Revenues rose 5.1% year/year to $8.72 bln vs the $8.7 bln consensus.
The company reported total net subscriber additions of 1.6 million during Q4 -- the best quarterly result in six years -- bringing total ending subscribers to the highest level in the co's history. Total postpaid net additions of 161,000 for Q4 represent the tenth consecutive quarter of YoY improvement and were driven by continued strength of the Sprint platform, which had net postpaid additions of 539,000. This is the seventh consecutive quarter of net postpaid subscriber growth on the Sprint platform.
The company continued to rapidly grow the number of prepaid and wholesale and affiliate subscribers in Q4. Prepaid net additions were 507,000 bringing total prepaid subscribers to nearly 14.8 million at the end of 2011, an increase of 20 percent since the end of 2010. Net additions of 954,000 for wholesale and affiliates in the fourth quarter were the highest in seven years. Sprint generated $257 million of Free Cash Flow in the quarter. As of Dec. 31, 2011, the co's total liquidity was approximately $6.7 billion, consisting of $5.6 billion in cash, cash equivalents and short-term investments and $1.1 billion of undrawn borrowing capacity available under its revolving bank credit facility.
Revenues rose 5.1% year/year to $8.72 bln vs the $8.7 bln consensus.
The company reported total net subscriber additions of 1.6 million during Q4 -- the best quarterly result in six years -- bringing total ending subscribers to the highest level in the co's history. Total postpaid net additions of 161,000 for Q4 represent the tenth consecutive quarter of YoY improvement and were driven by continued strength of the Sprint platform, which had net postpaid additions of 539,000. This is the seventh consecutive quarter of net postpaid subscriber growth on the Sprint platform.
The company continued to rapidly grow the number of prepaid and wholesale and affiliate subscribers in Q4. Prepaid net additions were 507,000 bringing total prepaid subscribers to nearly 14.8 million at the end of 2011, an increase of 20 percent since the end of 2010. Net additions of 954,000 for wholesale and affiliates in the fourth quarter were the highest in seven years. Sprint generated $257 million of Free Cash Flow in the quarter. As of Dec. 31, 2011, the co's total liquidity was approximately $6.7 billion, consisting of $5.6 billion in cash, cash equivalents and short-term investments and $1.1 billion of undrawn borrowing capacity available under its revolving bank credit facility.
