Sprint Nextel’s Q3 profits plummet, down 77%
This isn’t totally unexpected, no? Sprint Nextel’s earning came out, and they reported a 77% drop in profit, while also cutting forecasts for next year. They’ve lost the most subscribers this quarter since 2005, maybe longer. Their third-quarter net income turned out to be only $64M! How many customers did they lose exactly? 337,000, and that is "the most since it bought Nextel Communications Inc., amid complaints about dropped calls and poor reception." We guess they couldn’t get Gary out soon enough…
Thanks, to everyone that sent this in!
This doesnt surprise me. I dumped then for poor reception and poor CS support. BTW I had a nextel.
Decent coverage and prices. Customer service is beyond horrible. Thats why i am one of the 337000 that recently left.
damn is it really that bad? I guess am one of the few in the sinking ship…
Is anyone surprised? They treat customers like cattle and claim to have a superior network, but’s it’s just on par like most others, maybe even a notch lower. Everyone I know that used Sprint has issues and moving off the service for various reasons.
Oh well.
I’ve never had an issue with coverage or CS. Guess I’m one of the lucky few…
The bright side in this. They have only one way to go….is up. Can’t get much worse than this.
I’m not surprised. I switched to sprint from verizon and canceled after one day. The pricing was good and I had heard about their cs but I didn’t think it was gonna be that bad, but it’s what ultimately led me to cancel and go with at&t.
I’ve had Sprint for over two years and have had no problems. They’re coverage is much better than USCC who I used to have. I don’t understand all the negative opinions.
I had them awhile back. But ever since they bought Nextel and allowed all these other networks on their towers (Helio, Virgin Mobile, etc) they’ve had really crappy service. Plus any company who terminates 1,200 customers for calling CS too much is just plain out retarded. I mean AT&T isn’t known for good CS, but they won’t terminate you for calling too much.
This is the best time to jump in and get massive discounts and hidden plans. you Sprint ppl know what im talking about.
“Sprint ceded market share to AT&T Inc. and Verizon Wireless, the top two wireless carriers. San Antonio-based AT&T added 1.2 million contract customers in the quarter, while Basking Ridge, New Jersey-based Verizon Wireless signed up 1.7 million” It also goes to state that att had the iphone. So am I reading this correct.Verizon still added more customers than att even with the iphone. Can someone please explain. You would think there would be a huge write up on this.
JJLO,
The only other way beside up is OB and by the looks of a 77% drop, that’s where they’re going.
Anybody with SPRINT should start looking for a new provider otherwise yous gonna be screwed.
Hey SPRINT, can you say “we’re going out of business”?
AT&T added 2 million net http://www.att.com/gen/press-room?pid=4800&cdvn=news&newsarticleid=24568
unless I’m misreading it.
But I have a question about Sprint.
Their press release (link below) for 2007 Q2 states:
Post-paid subscribers increased by 16,000, reflecting a gain in CDMA subscribers, offset by a decline in iDEN subscribers.
At the end of the quarter, the company served 25.3 million on CDMA, 15.5 million on iDEN and 850,000 PowerSource users who access both platforms.
Then 2007 Q3 states:
At the end of the period, Sprint Nextel was serving approximately 34.1 million customers on CDMA, 18.7 million on iDEN, and 1.2 million PowerSource users who access both network platforms.
That is a difference of 8.8 million CDMA, 3.2 million iDen, and 350,000 powersource users between Q2 and Q3.
http://newsreleases.sprint.com/phoenix.zhtml?c=127149&p=irol-newsArticle_newsroom&ID=1038060&highlight=
http://newsreleases.sprint.com/phoenix.zhtml?c=127149&p=irol-newsArticle_newsroom&ID=1070801&highlight=
@Jeff:
As bad as it looks, I would be very surprised if they go OB. It may get worse before it gets better…but ultimately they have no choice but to go up or it will be OB.
Ther service sux they have a nasty habit of overbilling an qworst telco an virgin mooch off ther tower space an they pissed away 200k customers for callingg CS too much why is this shocking? Whay hasn’t british telecom bought them out yet?
i would be really surprised if they went out of business. they are still making money just not as much as they did before.
Nino
I am proud to be one of the over 337,00 folks who kicked Sprint to the curb during the 3rd quarter. Poor coverage and being treated poorly by a horrible customer service did it for me. . AT%T took me in with open arms. And, not to mention, they don’t offer new phones or products to there cusomers very often. If they were a different type of corporation such as a department store chain, they would definately be out of business.
I really don’t understand the negative reactions to Sprint service. I have great service no matter where I go. I get service where Verizon people don’t get it. Customer Service for me has been excellent. I had the chance to leave them recently with my contract about to expire and I stayed; even renewed for 2 more years. I think Sprint is great.
I am so not surprised that they’ve plummeted so much. My husband and I unfortunately were with Nextel after the Sprint merger. The reception and customer service were absolutely atrocious. We only stayed with them for as long as we did because we needed the walkies for location scouts and therefore suffered having no reception, no phone calls, no texts and no voicemail services at our houseand most areas. . The only income Sprint/Nextel made must have been from all the termination fees they charged when people dumped them. We are with T-Mobile now and couldn’t be happier with a carrier – the service and reception are awesome.No more dropped calls.
Well, Sprint just locked up my six phones for two years. The CS is horrible but the people in my local store and the regional manager have been great ironing out my issues. While there are some drawbacks with all of that, the reception in the Pittsburgh PA area where I live has been great-better than AT&T for the money. While I agree that the CS is the worst, TMO or other companies I like need to add some towers to pick up the coverage where I live if they want to win the customer battle. Look at it this way, maybe SK/Helio or British Telecom will buy us and make Sprint rock or the WIMAX will bail our butts out with Google’s platform. If not, I’m good unless I need Customer Service.
Yeah I had Nextel for several years & loved it & less than 3 months after the merger with sprint ( the carrier i LEFT to happily join nextel) I promptly CANCELLED my contract AND happily paid my ETF & never looked back. CS was abyssmal, rude, frequent OVER & DOUBLE billing (just like their counterpart Verizon) & just a complete lack of trying to give me ANY reason as a customer to continue to give them my hard earned money. Enough was enough.
I have had sprint for 2 years and have had billing issues most of those 2 years. i have never sen such OUTRAGEOUS stupid mistakes in billing. Cuxstomer Service seems to make u want to shoot yourself on the phone. It’s awful. I’m trying to stick it through til I fix my credit but they are having SERIOUS issues these days with their corporate structure…failed merger, firing the ceo, leasong out space….its a shame. i hope they pull it together
i have had poor cs too with sprint. but kevin and dan at the store more than make up for it. my problem is of eight phones my blackberry 8830 works great….but i can’t talk on it for all of tha audio problems. i have swapped out 4 times.same thing??? the other seven sound great