American wireless carrier Sprint said it expects to invest nearly $5 billion towards Capex (capital expenditures) during fiscal 2015.
Sprint, a part of SoftBank of Japan, today said its operating revenues fell 7 percent in Q4 fiscal 2014 to $8.3 billion.
Lower wireless service revenues mostly driven by customer shifts to rate plans associated with device financing options impacted the revenue of Sprint.
Operating income fell to $318 million from $420 million. Net loss increased to $224 million from net loss of $151 million.
Sprint CEO Marcelo Claure said: “Sprint platform net additions were the highest in nearly three years, postpaid churn dropped by 46 basis points sequentially, and the network received more awards in major markets, all of which will position the company for profitable growth.”
Sprint, which announced aggressive tariff plans, added 1.2 million Sprint platform customers against net losses of 383,000 in the prior year quarter. The improvement was mostly driven by growth in the prepaid business and fewer postpaid phone customer losses.
Postpaid net additions were 211,000 compared to net losses of 231,000. Postpaid phone losses of 201,000 improved sequentially for the fourth consecutive quarter and improved by nearly 500,000 year-over-year.
Prepaid net additions of 546,000 led the industry for second consecutive quarter and compared to net losses of 364,000.
Sprint platform postpaid churn of 1.84 percent improved 46 basis points sequentially from 2.30 percent last quarter
Sprint expanded company-owned distribution by opening 1,435 co-branded Sprint-RadioShack stores.
4G LTE coverage now reaches nearly 280 million people equaling 87 percent of U.S. population, said Sprint.