Sprint Corporation (NYSE:S) has reported a record quarter in fiscal 2014 in the last 28 quarters (since 2007). Despite the fact that the company lost 220,000 subscribers, while its operating income reached $519 million with a net income of $23 million. The net revenue for this quarter was just around $8.79 Billion, slightly lower than $8.88 billion for the same period in 2013.
The carrier managed to add 535,000 tablet users in the first quarter propelling its overall customer number. Sprint Corporation (NYSE:S) has lost some postpaid consumers mainly because of the network disruptions and its average monthly subscriber bill fell by 3.3% on the year to $62.07. However, the company is hopeful about its new Sprint Spark Service and can even improve the postpaid customer base with the completion of system upgrades.
“We reached several key milestones for the company this quarter, including largely completing a multi-year project to upgrade our core 3G and voice network, expanding 4G LTE coverage to approximately 254 million people and launching nationwide availability of HD Voice,” the CEO of Sprint Corporation (NYSE:S), Dan Hesse, was quoted as saying in a statement.
Further, the company is ready to launch attractive calling plans such as the pay-as-you-go plan announced today under the Virgin Mobile Businesses. The company is aiming to add more postpaid towards the end of the year.
Sprint Corporation (NYSE:S) is one of the biggest mobile carriers in the US with its customer base in the United States, the U.S. Virgin Islands, and Puerto Rico. It offers services in both wireless as well as a wire-line segment. Its wireless services include internet, email services, messaging, HD voice calls, and voice calls. The wire-line segment includes managed network services, VOIP, internet protocol, and multiprotocol label switching services. The company operates through four different brands including Sprint, Virgin Mobile, Boost Mobile, and Assurance Wireless. Sprint has a market cap of $30.61 billion.