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Sprint revenue falls on price cuts and promotions
February 5, 2015 / 12:27 PM / 3 years ago

Sprint revenue falls on price cuts and promotions

Feb 5 (Reuters) - Sprint Corp’s quarterly revenue fell 1.8 percent as the U.S. mobile provider struggles to reverse a decline in its subscriber base by cutting prices and offering promotions.

Sprint’s net loss more than doubled to $2.38 billion, or 60 cents per share, in the three months ended Dec. 31 from $1.04 billion, or 26 cents per share, a year earlier.

The company, which is 80 percent owned by Japan’s SoftBank Corp, said its net operating revenue fell to $8.97 billion from $9.14 billion. (Reporting by Abhirup Roy in Bengaluru; Editing by Savio D‘Souza)

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