KCUR News
3:00 am
Tue May 13, 2008

Greater Losses than Expected for Sprint

Kansas City, MO – First quarter earnings and losses reported Tuesday by Sprint-Nextel show losses even more remarkable than expected.

The Overland Park based wireless carrier reveals a loss of $505 million or 18 cents per share in the three months ending March 31st. It was down 7 cents a share, first quarter last year. Analysts had expected earnings of 2 cents per share.

Sprint Nextel lost more than a million subscribers and Wall Street sources say there will be more job cuts coming. First quarter earnings and losses reported Tuesday by Sprint-Nextel show losses even more remarkable than expected.