Sprint shares Q4 2013 earnings, announces Sprint Spark LTE service expansion

Alex Wagner
Editorial Director of News and Content from  Omaha, NE
| February 11, 2014

Sprint LG Viper

Last month saw AT&T and Verizon share their earnings for the final quarter of 2013, and now its Sprint's turn to spill its financial beans.

Sprint today announced its fourth quarter 2013 results, revealing that it added a total of 682,000 customers in the three month period. That number includes 58,000 postpaid subscribers, 322,000 prepaid users and 302,000 wholesale customers. Sprint ended 2013 with a total of 53.9 million subscribers, a figure that the big yellow carrier says is its highest level ever. Sprint also says that it sold 5.6 million smartphones in Q4 2013 and a total of 20.5 million smartphones for the entire year.

Moving on to the financial side of things, Sprint took a $1 billion net loss for the fourth quarter, though that number is an improvement from the $1.3 billion hit that it took in the year-ago quarter. Sprint also suffered an operating loss of $576 million for the quarter, a stat that the carrier notes is a 22 percent year-over-year improvement.

Finally, Sprint has some good news to share regarding its 4G LTE network. Hesse and Co. announced today that their Sprint Spark and HD Voice services are now live in both Baltimore and Philadelphia, bringing the total number of Sprint Spark markets up to 14.

Sprint went on to say that its LTE network now covers 200 million people and that that number is expected to grow to 250 million by mid-2014. Sprint also expects to complete its voice and 3G network modernization process by the middle of this year.

It sounds like Sprint had itself a decent end to 2014. Not only did it add nearly three-quarters of a million subscribers, it also continued to grow its 4G LTE and Sprint Spark footprints. Of course, it also took some hits financially, but at least those losses are improvements compared to the ones that it experienced in the year-ago quarter.

Sprint will hold a conference call to discuss its earnings later this morning, and as usual, I'll be listening in for any other information the big yellow carrier has to share about its Q4 2013 results.

Via Sprint (1), (2)