Sprint Improves Churn, But Still Loses 101K Subscribers on Contract

Fewer customers are leaving Sprint these days, the company revealed Thursday in its second-quarter earnings.

But despite the companys best postpaid churn (1.75 percent) and lowest prepaid churn (4.14 percent) in nearly six years, shares of the company plummeted after Sprint reported a net loss of $847 million on revenues of $8.3 billion.

The stock price was down more than 16 percent or 85 cents in early afternoon trading on the New York Stock Exchange.

In the second quarter, Sprint added 1.1 million customers, thanks partly to growth in its prepaid business, ending the period with about 52 million customers. Still, the third-largest U.S. wireless provider lost around 101,000 subscribers on contract.

Sprint now serves 32.9 million postpaid subscribers, 13.8 million prepaid customers and 5.4 million wholesale and affiliate customers.

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