It seems you can’t catch a break these days.
Most will agree that Sprint has:
- Good coverage. Not the best, but very decent.
- Excellent pricing for ‘all you can eat’ data and data/voice plans
- Very aggressive calling circle scenarios including inexpensive options for unlimited calls to any cell phone 24×7.
- Their advertising is everywhere (at least everywhere I look). Tons of creative web ads, all over Hulu, lots of product placement work such as Heroes etc
- They got the first true iPhone competitor this year with the Palm Pre.
- They have substantially improved customer service
- They just released the HTC Hero Android Phone. So except for the iPhone, they have almost major smartphone and device available.
And yet… This came out today:
- They lost 478 million in the last quarter. Significantly worse than a year ago, even with these new devices. (Yes, I know the Hero won’t affect things until the next reporting quarter)
- Revenue slipped 9%
- They lost 545 thousand subscribers net, including 801 thousand from traditional ‘post paid’ plans. This while AT&T added 2 million and Verizon 1.2 million. (The power of the iPhone…amazing)
- They trade at about $3.18 per share. Just 2 years ago they were trading at around $20/share
You almost have to feel sorry for them. What does a CEO have to do to win these days?
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