Sprint's Q1 wireline revenues slump to $770M
Sprint (NYSE: S) reported that its wireline revenues were $770 million, down sequentially and year-over-year from $859 million in the fourth quarter of 2013 and $893 million in the same period a year ago.
The decline is largely due to wider declines in voice, data and Internet service revenues, a reversal of the trend that took place in the fourth quarter of 2013, when it reported gains in all of these segments.
During the quarter, voice and data revenues declined sequentially to $352 million and $62 million from $386 million and $81 million, respectively. Likewise, Internet revenues were $345 million, down sequentially from $374 million in the previous quarter.
Despite these losses, the service provider continues to expand its cloud and managed services portfolio by adding Microsoft Lync to its cloud-based unified communications (UC) solution, for example.
From an overall financial perspective, Sprint reported consolidated operating income of $420 million, which it said was its best performance in over seven years.
Shares of Sprint were listed at $7.65, up 22 cents or 2.96 percent, on the New York Stock Exchange (NYSE).
- see the earnings release
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