KANSAS CITY, Mo. — The Associated Press Published on Monday, May. 04, 2009 7:43AM EDT Last updated on Friday, May. 15, 2009 3:20PM EDT
Sprint Nextel Corp. S-N, the nation's third largest wireless service provider, says it had a larger first-quarter loss on declining revenue, continuing customer losses and a charge for job cuts announced in January.
The Overland Park, Kan.-based company said Monday it lost $594-million (U.S.), or 21 cents per share, during the three months ending March 31. That compares with a loss of $505-million, or 18 cents per share, a year ago.
Not including one-time items, Sprint says it would have lost 3 cents – a penny less than analysts had expected.
It says revenue declined 12 per cent to $8.21-billion, slightly below the $8.28-billion analysts expected.
Sprint says it lost a net of 182,000 subscribers.
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