Sprint announced its financial results for the second quarter of 2012 today, which includes “strong” iPhone sales of 1.5 million units. 40% of these devices went to new customers, but they couldn’t help the carrier get out of the red. It reported a net loss of $1.2 billion over the three-month period, compared to a net loss of $847 million for the same quarter last year.
The company’s press release read:
The company served more than 56 million customers at the end of the second quarter of 2012. This includes nearly 32.6 million postpaid subscribers (29.4 million on the Sprint platform and 3.1 million on the Nextel platform), 15.4 million prepaid subscribers (14.1 million on the Sprint platform and 1.3 million on the Nextel platform) and approximately 8.4 million wholesale and affiliate subscribers, all of whom utilize the Sprint platform.
Despite its net loss, Sprint CEO Dan Hesse did have some good news:
The Sprint platform achieved best ever postpaid ARPU and customer churn that, combined with disciplined customer acquisition and cost management, contributed to our Adjusted OIBDA* of $1.45 billion. Based on this performance, we are raising the 2012 Adjusted OIBDA* forecast to between $4.5 billion and $4.6 billion.
Despite strong iPhone sales, Sprint blamed Apple’s smartphone for its increase in net subsidy:
The quarterly year-over-year increase in net subsidy is primarily due to the launch of the iPhone, which on average carries a higher subsidy rate per handset as compared to other handsets. The sequential decline in net subsidy is primarily due to lower postpaid and prepaid gross additions.