Sprint Corp. has released its Q2 2019 earnings results with some sad news. According to the report, the company lost 91,000 postpaid phone subscribers in the quarter alone. Research firm FactSet even expected the company to have a net loss of 145,000 subscribers.
For quite some time, Sprint has focused its time on pushing 5G connectivity. This year, the company has pushed the connection in nine cities. To increase its users, Sprint offered 5G as a bundle with Hulu and Amazon Prime.
In addition to loss in postpaid phone subscribers, Sprint reported a $7.8 billion total net operating revenue, a number that has fallen from $8.43 billion. Analysts from Refinitiv projected that the company will have a revenue of $8.17 billion.
As for the net loss attributable to the company, there is a loss of 7 cents per share, or $274 million in the quarter. Last year’s results showed 5 cents per share and a net income of $196 million. The analysts expected the company to have a loss of 2 cents per share.
Read more about Sprint’s Q2 2019 earnings here.