Sprint Still Struggling

CNET News reports that despite strong sales of its Instinct touch-screen phone, Sprint Nextel reported yet another quarter of losses on Wednesday when it posted second quarter earnings, dashing any hopes that the company was back on track:

“The company has made significant spending cuts, and some of its other efforts to retain customers seem to be working. The result was the company didn’t lose as much money as it had in the first quarter nor did it lose as many subscribers,” the report said. “But management’s projections that the third quarter will see more customer losses, dashed any hopes that Sprint might make a quick comeback in the second half of the year.”

However, the company still lost 901,000 more subscribers. That’s better than the 1 million+ that it recently lost, but shows that Sprint continues to lose customers at an alarming rate.

The report said that while these results mark an improvement over the previous month, investors were “spooked by management’s projections that subscriber losses and the company’s churn rate will likely get worse in the third quarter.”

Join Baratunde Thurston (left), The Onion’s Director of Digital and author of How to Be Black, for an entertaining look at creative social media campaigns in our Social Media Marketing Boot Camp starting February 16. Other speakers include Morin Oluwole (Facebook), Tim Devane (bitly), and SocialTimes' writer Devon Glenn.   Register now.