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Sprint Nextel 3Q loss grows on subscriber losses

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[October 29, 2009]  KANSAS CITY, Mo. (AP) -- Sprint Nextel's losses grew in the third quarter as wireless subscribers continued to leave for other carriers.

InsuranceThe wireless carrier on Thursday reported a quarterly loss of $478 million, or 17 cents per share, compared with a loss of $326 million, or 11 cents per share, during the same period a year ago.

Revenue during the quarter slipped 9 percent to $8.04 billion.

Analysts surveyed by Thomson Reuters expected a loss of 15 cents per share on $8.09 billion in revenue.

Sprint Nextel Corp., based in Overland Park, Kan., reported it lost a net of 545,000 wireless subscribers, including 801,000 people who sign annual contracts.

[Associated Press]

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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