Sprint reports subscriber losses, job cuts (5,000)

[OhioChick]

Posted on Mon, Jan. 08, 2007

RESTON, Va. (AP) - Sprint Nextel Corp. reported Monday that its cell phone business suffered a net loss of 300,000 monthly subscribers in the fourth quarter and that the struggling wireless company will cut 5,000 jobs.

The company's stock plunged more than 8 percent after the financial update, which included a 2007 outlook shy of many Wall Street forecasts.

Sprint said it expects its 2006 results to be in line with its previous guidance, with full-year revenue of $41 billion to $41.5 billion and adjusted operating income before depreciation and amortization of $12.6 billion to $12.9 billion. On average, analysts surveyed by Thomson Financial are forecasting 2006 earnings of $1.26 per share on sales of $41.53 billion.

For 2007, the company now expects operating revenue of $41 billion to $42 billion in 2007. Analysts are looking for earnings of $1.32 per share on sales of $42.04 billion.

http://www.mercurynews.com/mld/mercurynews/business/16412969.htm

[Moloch]

1. Instead of laying off employees...

they should improve their service.. its terrible!

that's why they're losing subscribers..