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Sprint’s Q3 loss widens

By
Post Staff Report
Published Oct. 30, 2009, 4:00 a.m. ET

Sprint Nextel reported a wider quarterly loss and a 9 percent revenue decline, but its success in slowing the loss of the most valuable wireless subscribers took some of the sting out of the results.

At the heart of Sprint’s struggles is the loss of postpaid monthly-bill-paying subscribers, the most attractive ones in the mobile business, which has put it further behind rivals Verizon Wireless and AT&T.

In the third quarter, Sprint lost 801,000 postpaid subscribers, a significant number but well below the 870,000 losses analysts had feared.