OVERLAND PARK, Kan. -- Sprint released its earnings report and the 2013 second quarter have proven to prosperous for the company.
In previous years, Sprint released its earnings at 6 a.m., but the merger with Softbank moved it to midnight to coincide with the release of Softbanks' earnings report in Japan, which is 14 hours ahead of Kansas City.
Sprint Earnings Report 2013 Second Quarter:
Record Revenue of $7.2 billion
Net Loss of $874 million or $.53 a share
Lost 2 million Nextel Customers
Analysts expected the above findings with Sprint getting rid of Nextel, which they bought in 2005. Many of those customers jumped ship to Verizon and AT&T.
Sprint is expected to struggle rest of the year as they work to build ultra high speed 4G network. But there are a few reasons why Sprint fans should be optimistic.
Softbank earnings beat expectations. The company is thriving and making record profits with sales of iPhone and upgrades to wireless service to make it faster.
With acquisition of Clearwire, Sprint owns more broadband spectrum than all other cell companies combined, so will be able to make service faster.
Many expect Sprint to lower prices, maybe go month-to-month like TMobile, which recently rolled out unlimited talk, text and data for life plan.
Sprint is also touting results of the 2013 American Customer Satisfaction Index released in May saying Sprint is the most improved U.S. company in customer satisfaction, but still last compared to other three cellular networks.