Sprint loses 467K subscribers as T-Mobile CEO gloats

sprint-logoSprint may have posted better-than-expected first quarter earnings today, but the third-largest U.S. wireless carrier is losing customers at an increasing clip.

Sprint reported a loss of $151 million (4 cents per share) in Q1 2014, which beat Wall Street’s expectations and was far lower than its $643 million loss at this time last year. But the carrier also suffered a net loss of 467,000 subscribers, up by 52,000 from Q1 2013.

Though Sprint’s stock is up more than 10 percent today, the customers losses come as the company faces stiff competition from AT&T, Verizon and a recently-aggressive T-Mobile, whose CEO had something to say about Sprint’s earnings results:

Sprint, which was acquired by SoftBank this past July, has shown interest in buying T-Mobile to create a more potent competitor to AT&T and Verizon. But at this point there are no formal proposals on the table.

Meanwhile, Sprint said Tuesday that its 4G LTE network now reaches 225 million people — though part of that subscriber loss could be due to the company’s struggles with its 4G rollout. It also noted that 3 million people have signed up for its new Framily Plan, which gives discounts to big groups and competes against new innovative deals offered from T-Mobile and AT&T.

In February, Sprint continued to slash jobs in the Seattle area by laying off 91 people from Clearwire, a company Sprint acquired last year.

  • Thomas

    Well when your told you’d have 4g in a year and now it’s going on 4 or 5 what do you expect bad thing is they haven’t even begun to work on towers don’t know whose putting 4g in. Sprint reps said maybe next year of July 2015 please this is why there losing customers 4g was supposed to be here Dec 2011.

  • Jeff Nims

    I’ve been waiting for them to go out of business. When I had an iPhone with them, many speedtests showed 3G download speeds of 0.01 Mbps. Couldn’t use anything except iMessage, which sending a message took a couple minutes. It was ridiculous.

  • Brendan Schultz

    i would to if tmobile didnt cover half of nc with 2g

  • Oldtreker

    I Have been with Sprint for 15 years. Never had a smart phone till last year when I paid $199.00 for a iphone 5 I wasted my money, the phone is to much to handle for the Sprint network on Long Island. I shouldn’t have to pay a extra $10.00 a month for data that isn’t 4G. 7 months left on my contract.

  • Jamie Yoak

    Sprint really needs to redo their company or go out of business.