Sprint (NYSE: S) Nextel reported Q1 net operating revenues of $9.05 billion, down 11 percent from the $10.2 billion reported in the same quarter a year ago. The struggling carrier lost $344 million, or 12 cents a share, compared to a profit of $19 million, or 1 cents per share, year-on-year. Revenues missed analyst expectations which were forecast at $9.17 billion.
Sprint’s wireless unit saw revenues drop to $7.7 billion, a 12.5 percent decline from $8.8 billion a year ago. But the carrier has managed to at least slow the number of customers leaving the network. While Sprint lost 901,000 subscribers, including 776,000 post-paid customers and 250,000 prepaid users, this was down from Q1