04 Nov 07 Sprint Looking For Ways to Stop Hemorrhaging

According to the Wall Street Journal, the company’s third-quarter net income fell a whopping 77 percent as the mass exodus of wireless customers continued. They are going to try and stop some of the bleeding by tinkering with pricing plans.

So how bad were things in the third quarter? Excluding acquisitions, the company said it lost 337,000 post-paid subscribers, or those who sign annual contracts and pay monthly bills. Total subscribership (both wireless and wireline) also dipped from 60,000 in the second quarter to 54 million. All of this while Sprint’s rivals, AT&T and Verizon, added 2 million and 1.6 million net subscribers, respectively.

Tags: acquisitions, contracts, mass exodus, net income, rivals, second quarter, sprint, subscribers, wall street journal, wireless customers, wireline