Sprint Nextel loses 1 million subscribers

By: AP
By: AP

OVERLAND PARK, Kan. (AP) _ Wireless carrier Sprint Nextel says it had a larger first-quarter loss as it continued to lose valuable monthly subscribers and had to pay for severance charges and other costs.

Overland Park-based Sprint says losses totalled 505 million dollars, or 18 cents per share. That compares with a year-ago loss of 211 million dollars, or 7 per share.

Not including a number of one-time charges, the company says it earned 4 cents per share.

Revenues during the quarter fell 7.5 percent to 9.3 billion dollars.

Analysts had expected earnings of 2 cents per share on 9.4 billion dollars in sales.

The company said it lost more than 1 million post-paid subscribers during the quarter.

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