(NEW YORK) — Sprint announced its quarterly earnings Tuesday, reporting narrower net income losses but a decrease in subscribers.
Revenue increased to $8.88 billion and beat estimates from analysts, and net losses narrowed to $151 million, or 4 cents a share, in the first quarter, down from $643 million, or 21 cents a share, in same quarter a year ago. But the company lost a net 467,000 wireless devices during the first quarter, compared to a loss of 415,000 last year.
Sprint said its 4G LTE network has expanded to 41 more cities for a total of 225 million people, and is set to cover 250 million by mid-2014.
Increasing competition from other wireless companies hasn’t made it easy for the Kansas-based company. Sprint introduced the “Framily” plan early in the qaurter, a new pricing program allowing customers to build their own group plan. Nearly three million customers have joined the program, according to the report.
Copyright 2014 ABC News Radio
Lois M. Collins, Deseret News