Sprint Nextel (S) Reports Q1 Loss of $0.21; Comments on Outlook
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Sprint Nextel Corp. (NYSE: S) reports Q1 loss of $0.21, versus the analyst estimate of ($0.05) and compared to a loss of $0.18 in the same quarter last year. Adjusted EPS before Amortization was $0.03 for the quarter. Revenue for the quarter was $8.2 billion, versus the consensus of $8.28 billion.
Sprint Nextel anticipates that an increasing number of wireless customers could choose prepaid services instead of post-paid services in this economic environment. Nevertheless, the company continues to expect that not only prepaid, but also post-paid and total subscriber full-year losses should improve in 2009 as compared to 2008. In addition, the company still expects that full-year capital expenditures in 2009 will be consistent with 2008 levels, excluding WiMAX. The company expects to continue to generate positive Free Cash Flow during the remainder of 2009, aided by the growth of Boost Monthly Unlimited.
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