Sprint Corp. (S) Issues Prelim. Q3 Sub Numbers; Postpaid Increased 30k

Sprint Corp. (NYSE: S) reported preliminary results from the third fiscal quarter of 2014 that demonstrate the positive impact of Sprint’s efforts to offer customers the best value in wireless. During the quarter, Sprint platform net additions totaled 967,000 including postpaid net additions of 30,000, prepaid net additions of 410,000 and wholesale net additions of 527,000.

The growth in postpaid customers was driven by the highest number of postpaid gross additions in three years, and postpaid phone gross additions increased 20 percent for the quarter year-over-year. In addition, the percentage of prime customers was the highest on record.

“Sprint’s first priority is a return to customer growth and our results during the last quarter show we are on the right track,” said Marcelo Claure, Sprint’s CEO. “While we still have work to do, it is clear that our aggressive actions to provide customers with the best value in wireless are gaining momentum.”

Since Claure became CEO in August, Sprint has launched a number of innovative and simplified price plans and promotions including the Cut Your Bill in Half Event that cut in half the monthly rate plan for Verizon and AT&T customers who switch to Sprint, and the industry-first iPhone for Life leasing plan that offers the lowest total cost of iPhone ownership for consumers starting at only $20/month. Sprint exited the quarter strong on the heels of these offers, nearly reaching postpaid phone net additions in December and increasing take rates on Sprint’s device financing options to 50 percent in the last month.

Sprint will provide its full financial results for the third fiscal quarter of 2014 in February.

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