Company Website:
http://www.sprint.com
OVERLAND PARK, Kan. -- (Business Wire)
Sprint Corporation (NYSE:S) reported preliminary results from the third
fiscal quarter of 2014 that demonstrate the positive impact of Sprint’s
efforts to offer customers the best value in wireless. During the
quarter, Sprint platform net additions totaled 967,000 including
postpaid net additions of 30,000, prepaid net additions of 410,000 and
wholesale net additions of 527,000.
The growth in postpaid customers was driven by the highest number of
postpaid gross additions in three years, and postpaid phone gross
additions increased 20 percent for the quarter year-over-year. In
addition, the percentage of prime customers was the highest on record.
“Sprint’s first priority is a return to customer growth and our results
during the last quarter show we are on the right track,” said Marcelo
Claure, Sprint’s CEO. “While we still have work to do, it is clear that
our aggressive actions to provide customers with the best value in
wireless are gaining momentum.”
Since Claure became CEO in August, Sprint has launched a number of
innovative and simplified price plans and promotions including the Cut
Your Bill in Half Event that cut in half the monthly rate plan for
Verizon and AT&T customers who switch to Sprint, and the industry-first
iPhone for Life leasing plan that offers the lowest total cost of iPhone
ownership for consumers starting at only $20/month. Sprint exited the
quarter strong on the heels of these offers, nearly reaching postpaid
phone net additions in December and increasing take rates on Sprint’s
device financing options to 50 percent in the last month.
Sprint will provide its full financial results for the third fiscal
quarter of 2014 in February.
Safe Harbor
This release includes “forward-looking statements” within the meaning of
the securities laws. The words “may,” “could,” “should,” “estimate,”
“project,” “forecast,” “intend,” “expect,” “anticipate,” “believe,”
“target,” “plan,” “providing guidance,” and similar expressions are
intended to identify information that is not historical in nature. All
statements that address operating performance, events or developments
that we expect or anticipate will occur in the future — including
statements relating to our network, connections growth, and liquidity;
and statements expressing general views about future operating results —
are forward-looking statements. Forward-looking statements are estimates
and projections reflecting management’s judgment based on currently
available information and involve a number of risks and uncertainties
that could cause actual results to differ materially from those
suggested by the forward-looking statements. With respect to these
forward-looking statements, management has made assumptions regarding,
among other things, the ability to operationalize the anticipated
benefits from the SoftBank and Clearwire transactions, the development
and deployment of new technologies; efficiencies and cost savings of new
technologies and services; customer and network usage; connection growth
and retention; service, speed, coverage and quality; availability of
devices; the timing of various events and the economic environment.
Sprint believes these forward-looking statements are reasonable;
however, you should not place undue reliance on forward-looking
statements, which are based on current expectations and speak only as of
the date when made. Sprint undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law. In
addition, forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
our company's historical experience and our present expectations or
projections. Factors that might cause such differences include, but are
not limited to, those discussed in Sprint Corporation’s Transition
Report on Form 10-K for the period ended March 31, 2014. You should
understand that it is not possible to predict or identify all such
factors. Consequently, you should not consider any such list to be a
complete set of all potential risks or uncertainties.
About Sprint
Sprint (NYSE:S) is a communications services company that creates more
and better ways to connect its customers to the things they care about
most. Sprint served 55 million customers as of September 30, 2014 and is
widely recognized for developing, engineering and deploying innovative
technologies, including the first wireless 4G service from a national
carrier in the United States; leading no-contract brands including
Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant
national and international push-to-talk capabilities; and a global Tier
1 Internet backbone. Sprint has been named to the Dow Jones
Sustainability Index (DJSI) North America for the last four years. You
can learn more and visit Sprint at www.sprint.com
or www.facebook.com/sprint
and www.twitter.com/sprint.
Contacts:
Sprint Corporation
Media Contact:
Scott Sloat,
240-855-0164
scott.sloat@sprint.com
or
Investor
Contact:
Jud Henry, 800-259-3755
investor.relations@sprint.com
Source: Sprint Corporation
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