Sprint has delivered its quarterly results, noting that revenue has fallen by 2.5 percent, as the telecommunications provider handed out big discounts to gain more subscribers.
Sprint’s net operating revenue fell to $8.07 billion by the end of the fourth quarter. At that same time last year, it sat at $8.28 billion. Sprint’s hoping that these discounts to consumers will payoff for the carrier, but the difficulty is keeping subscribers enrolled for a longer period of time.
While the numbers aren’t the best, this was a big year for Sprint, as this is the first time the carrier has had a positive annual operating income in nine years. Here’s a direct quote from the press release:
“Fiscal 2015 was a transformational year in the turnaround of Sprint. We significantly reduced our operating expenses and stabilized operating revenues, leading to positive operating income for the first time in nine years. At the same time, we generated positive postpaid phone net additions for the first time in three years, capped off by surpassing both Verizon and AT&T for the first time on record this quarter,” said Sprint CEO Marcelo Claure.
Things are looking up for Sprint, but they’ve still got a lot to do, as competition will only get fiercer. Hopefully Sprint will have even better results over the next fiscal year.
source: Sprint
Come comment on this article: Sprint’s quarterly results are in, revenue down due to big discounts
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