Sprint to add customers
Sprint (S) has been making efforts to grow its subscriber base amid the rising popularity of online video streaming services provided by Netflix, Amazon Prime, Hulu, and YouTube. In the recent fourth-quarter fiscal 2017 results, the telecom company added a significant number of postpaid and prepaid customers. Sprint also added thousands of small-cell solutions and deployed more than 200,000 Sprint Magic Boxes to improve its network performance.
The fourth-largest wireless network provider in the United States, Sprint also agreed to an acquisition deal with T-Mobile (TMUS) on April 27. The deal, if approved by regulators, would mean ~127.0 million subscribers, enough to intensify the competition with the top two wireless carriers in the country, Verizon (VZ) and AT&T (T).
Sprint adds customers in fiscal 4Q17
In fiscal 4Q17, which ended on March 31, the telecom company posted strong postpaid phone customer net additions as its network is becoming more competitive. In the fourth quarter, Sprint added a total 44,000 wireless customers, including postpaid customers of 39,000 and prepaid customers of 170,000, but it lost 165,000 customers in the wholesale and affiliate spaces.
At the end of March 31, Sprint had 54.6 million wireless connections, up 1.8% year over year. This total includes approximately 32.1 million postpaid, around 9 million prepaid, and about 13.5 million wholesale customers.
In the quarter, Sprint added net 55,000 postpaid phone customers, marking the eleventh consecutive quarter of net additions. Sprint’s postpaid phone net additions of 606,000 in fiscal 2017 marked the third straight year of net additions.