Sprint Q1 2005: doubled profit

Apr 20 2005 - 10:39 AM ET | Sprint Nextel
Sprint saw a great first quarter due to a surge in profit from its wireless division that beat a downturn in its wired phone unit. Highlights of the release include: * $472 million net income, versus $225 million in the same quarter last year * Wireless revenue of $3.87 billion, up 13% * Net gain of 1.3 million wireless subscribers, for a total of about 26 million * Average revenue per user (ARPU) was $61, down from $62 a year ago (with data revenue responsible for about $6 of that). Average usage was about 16 hours per month. * Churn was 2.5% compared to 2.9% a year ago