Sprint Nextel today reported that during the third quarter of 2010, the company achieved its best total company wireless subscriber net additions since 2006, adding 644,000 total wireless subscribers driven by positive net postpaid subscriber growth of 354,000 for the Sprint brand and the company?s best year-over-year improvement in postpaid churn in five years. Demand for smartphones like Samsung Epic 4GTM and HTC EVO 4G remained strong, and the company delivered postpaid churn of 1.93 percent ? the best postpaid churn result Sprint has reported in the third quarter of any year.
* Delivered the fourth consecutive quarter of positive net postpaid subscriber growth for the Sprint brand; second best postpaid churn result ever * Achieved eleventh consecutive quarter of improvement in Customer Care Satisfaction and First Call Resolution * Grew quarterly total net operating revenues sequentially and year-over-year * Maintained strong liquidity with cash and cash equivalents balance of $4.7 billion; year-to-date Free Cash Flow of $1.6 billion
Sprint announced third quarter consolidated net operating revenues of almost $8.2 billion, a net loss of $911 million and a diluted loss per share of 30 cents. The company generated $384 million of Free Cash Flow in the quarter, and maintained a strong liquidity position with approximately $4.7 billion in cash and cash equivalents at the end of the quarter.
Heading into the holidays, Sprint boasts a varied and compelling device portfolio that includes more than a dozen products that offer 4G service, including phones, USB modems, mobile hotspots and routers. The popular Samsung Epic 4G became Sprint's second 4G handset when it debuted in stores in September. The award-winning Samsung Galaxy Tab will be available to customers Nov. 14, with 3G network speeds and integrated Sprint ID. Last week, Sprint became the first wireless carrier in America to offer an embedded 3G/4G netbook and notebook, announcing the availability of Dell Inspiron Mini 10 (1012) and Dell Inspiron 11z. And debuting Oct. 31, 2010, the Blackberry Style 9670 will offer an elegant flip design, full QWERTY keyboard, advanced smartphone features and new BlackBerry 6 OS.
Sprint launched 4G service in 19 new cities during the quarter, including Boston, Orlando and Nashville. Sprint 4G is now available in 55 markets. As previously announced by Clearwire Corp. (NASDAQ: CLWR), coverage is expected to reach up to 120 million people by the end of 2010, including a deployment in New York on Nov. 1, and in December, Sprint will launch 4G service in Los Angeles, Miami and San Francisco, to name a few.