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Investing

Sprint (S) Shows Its Weaknesses (GOOG)(CMCSA)(INTC)

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Sprint (S) may be building the nation’s biggest broadband wireless network, but its core business is still in trouble. Is the company becoming so weak that its partner ship with Intel (INTC),  Comcast (CMCSA), and Google (GOOG) will get into trouble?

Revenue for the quarter were $9.3 billion, an 8% decline compared to $10.1 billion reported in the first quarter of 2007. Reported diluted loss per share was 18 cents compared to a 7 cent loss in the year-ago period.

Customers continue to walk away from the company. For the quarter, total wireless subscribers declined by 1.09 million due to losses of 1.07 million post-paid subscribers and 543,000 traditional prepaid users.Sprint had 52.8 million total subscribers at the end of the period, compared to 53.6 million at the end of the first quarter of 2007.

The company’s subscriber churn rate and revenue-per-customer both fell.

Wall St. has to ask whether there will be anything left of the company when it is time to start creating the new WiMax infrastructure.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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