Sprint reports Q2 2012 results, confirms Motorola Photon Q 4G LTE is coming soon [UPDATED]Alex Wagner - Deputy Managing Editor, News Desk
The train of second quarter 2012 earnings reports keeps on chugging this morning, and this time it's Sprint that's dropping some numbers. The carrier revealed today that it added a total of 442,000 postpaid customers in Q2 2012, finishing the three-month period with over 56 million users, nearly 32.6 million of which were postpaid. Sprint saw its postpaid churn hit 1.69 percent for the quarter, which is a down from 2.00 percent in Q1 2012. Sprint says that it sold 1.5 million iPhones in Q2 2012, 40 percent of which went to new postpaid users.
Sprint also gave an update on its Network Vision project during its Q2 2012 report. The Sprint 4G LTE rollout is continuing on, with 15 cities already online. Sprint expects to have 12,000 LTE sites on the air by the end of 2012. As for sites that are shutting down, Sprint says that it turned off 9,600 Nextel sites in the quarter, adding that 60 percent of postpaid Nextel customers that left the platform in Q2 became postpaid Sprint customers.
On the financial side of things, Sprint posted a $1.374 billion loss for the quarter, an increase from the $863 million loss it posted in Q1 2012. It also reported an operating loss of $629 million. Meanwhile, Sprint revealed a net operating revenue of $8.843 billion for the second quarter, up from $8.311 billion in Q1 2012.
Finally, Sprint revealed during its earnings call that it plans to launch a new device called the Motorola Photon Q 4G LTE soon. Details on the phone are still light, but it was confirmed that the Photon Q will be a QWERTY slider smartphone. A photo of a device that's thought to be the Photon Q surfaced in late June.
Obviously that $1.374 billion loss isn't good news for Sprint, but the carrier did manage to post its best ever postpaid average revenue per user (ARPU) and postpaid churn during the quarter, so it's not all bad for the Now Network. There's also the news that Sprint plans to have 12,000 LTE sites online by the end of the year and that it's taken 9,600 Nextel sites offline to date, both of which are good to hear for both Sprint and its customers. The carrier is currently hosting its Q2 2012 earnings call, so we'll let you know if it has any other interesting facts to offer. In the meantime, you can find Sprint's full Q2 2012 report at the link below.
UPDATE: Sprint also said that Baltimore is expected to get 4G LTE by the end of August. Baltimore was first confirmed to be getting Sprint LTE coverage in early February 2012.