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Sprint Pays for Wireless Foray

Sprint Corp. (NYSE: FON, PCS) hammered the final nail into its fixed wireless coffin today, even as it raised expectations for other areas of its business.

The carrier announced a $498 million net loss for its third quarter, compared with a $519 million net income for the same period a year earlier (see Sprint Reports Q3 Earnings). Consolidated revenues (wireline and wireless) were down slightly at $6.7 billion, compared with $6.8 billion for the same quarter last year.

That net loss came from one-time items of $768 million, primarily from the writedown of the company's 2.5GHz MMDS (multichannel multipoint distribution service) spectrum for fixed wireless services.

Get the whole story on Boardwatch.

— Ray Le Maistre, International Editor, Boardwatch

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