Sprint Nextel beats by $0.03, reports revs in-line; not to declare a dividend for the forseeable future

Feb.28, 2008 in Market Outlook

Reports Q4 (Dec) earnings of $0.21 per share, $0.03 better than the First Call consensus of $0.18; revenues fell 5.7% year/year to $9.85 bln vs the $9.92 bln consensus. Wireless had 53.8 million total subscribers at the end of 2007. At the end of the fourth quarter, Sprint Nextel served a little more than 35 million subscribers on the CDMA platform, 17.3 million on iDEN and 1.4 million PowerSource subscribers who access both platforms. Overall, post-paid churn was 2.3% in the quarter. In the fourth quarter, the post-paid churn rate was flat with the third quarter for both the iDEN and CDMA bases. Board of Directors has determined that the company will not declare a dividend for the foreseeable future, in an effort to retain greater financial flexibility.

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