Sprint announced earlier this morning their second quarter 2012 financial results and while we hope it’s ready for a bright future, the present isn’t so positive. Sprint reported a net loss of $1.4 billion, compared to a net loss of $847 million in the second quarter of 2011. Sprint did gain 263,000 postpaid net additions in the quarter, the eighth such consecutive quarter of postpaid subscriber growth on the Sprint platform.
Total company net additions of more than 1 million for the sixth such consecutive quarter, likely piggybacking on the continued success of Sprint’s MVNO brands Virgin and Boost Mobile. Sprint’s Network Vision project continues to look on track, with six more major cities expected to launch 4G LTE by mid-year, with 12,000 sites online by the end of 2012. As of today, work has begun on 25% of planned 2012 work sites, with 5% of those sites already on air.
Sprint now serves more than 56 million customers, including 32.8 million subscribers breaking down to 29 million on the Sprint platform and 3.8 million on the Nextel side. The numbers also include 15.3 million prepaid subscribers, 13.7 million on Sprint and 1.6 million Nextel and about 8 million wholesale and affiliate subscribers, all of whom use the Sprint network.
On a side note, during Sprint’s early morning conference call with CEO Dan Hesse, he revealed the Motorola Photon Q, the company’s next LTE “world phone” as “coming very soon.” The Photon Q is believed to be running Android 4.0 with a QWERTY slider and with a CEO announcement, we expect to hear a lot more about this device very soon.
You can find all the financial details including the entire financial breakdown on Sprint’s website if you’re into reading that kind of thing.