The Wall Street gurus understand that some companies aren’t doing that well during this recession, but Sprint surprised some folks today when the company released its quarterly financials. It seems that the wireless carrier’s $594,000,000 loss wasn’t as much as the experts expected causing the company’s stock to rise. But isn’t it crazy that we’re living in a world where a $594 million net loss is considered a good thing?
The rest of the financial statement continues the same trend of beating expectations, but still seeing decreasing revenue and subscribers. Revenue fell 12% as approximately 182,000 subscribers left during the first part of this year. However, cash flow increased and operating expenses decreased during the first quarter showing that the company is making steps to right the sinking ship. Hopefully the Palm Pre, and Palm’s other upcoming handset, will quickly arive and help bail water before Sprint sinks anymore.
I’ve been with Sprint almost 12 years now and I think the end is near. Besides their horrible customer service and difficult web site, the company has either missed some opportunities or made some poor business decisions. I thought the introduction of the Palm Pre might be a salvation for the company. But after hearing the Eos is running the same rave webOS as Pre and will be available through AT&T also, I have to wonder…can Sprint even compete in this marketplace anymore? Great network and the best pricing of the big three but lacking innovation (handsets) and service may make the company prime for acquisition by Verizon (CDMA).
My sister had them for about 4 years and they didn’t bother to threat her nice when she lost her phone. She already going with T-mobile. As for me, I have their Sero plan but I already had a few problems with them, Maybe when Tmobile goes LTE i’ll switch if the price is right.