Sprint Pays for Wireless Foray
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.
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— Ray Le Maistre, International Editor, Boardwatch