by Kelly Hill
Sprint Nextel Corp. confirmed its dismal fourth quarter customer numbers with the release of its full financials, but reported a silver lining of a 32-percent increase in profits for the quarter.
The carrier’s stock was up around 5 percent after the news to $19.41 per share.
The carrier announced in early January that it expected to report a loss of about 306,000 postpaid customers during the fourth quarter, reflecting continued losses from the Nextel side of its business. Sprint Nextel gained 742,000 overall net customers during the fourth quarter.
Sprint Nextel chairman and CEO Gary Forsee said the company had poured money into business operations and network investments during the fourth quarter in order to improve its metrics.
“We are seeing early returns from these investments as we widen our lead in wireless data services on the CDMA platform and with the iDEN network now delivering substantially improved call-quality metrics,” Forsee said. He went on to note that the company “experienced uneven financial performance between our network platforms and within some of our key wireless metrics.”
Mobiledude says: I dont believe it---mark my words, by the end of October 2007, Sprint will be investigated for accounting irregularities. Come on! This is coming from the carrier that is upset that its MVNO
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