Sprint's efforts to regain some of its previously lost footing are gaining steam, with the company adding 173,000 net new post-paid customers last quarter -- the company's strongest showing in nine years. Sprint has desperately been trying to turn the company's flailing fortunes around, simultaneously attempting to net $2.5 billion in annual savings via budget cuts -- while simultaneously shoring up a network that had fallen behind in performance and reliability.
That said, Sprint still posted a $302 million first quarter loss, larger than its year-ago loss of $20 million.
“We had another quarter of solid progress in our turnaround with the highest first quarter postpaid phone net additions in nine years1, the lowest postpaid phone churn in company history, and finally being postpaid net port positive against all three national carriers after five years” said Sprint CEO Marcelo Claure.
"We also grew wireless net operating revenue year-over-year while aggressively reducing the cash operating expenses of the business and our network is performing better than ever."
Granted Sprint still has a lot of work to do. The carrier has stumbled through a bit of an identity crisis in trying to fend off aggressive marketing by T-Mobile, making
numerous marketing missteps. Still, good news is good news, and Sprint says its 173,000 postpaid additions are the fourth consecutive quarter of positive net additions, and its 1.39% churn (customer defection rate) "is the best in company history and improved year-over-year for the sixth consecutive quarter."