Sprint's losses mount in first quarter

From CNET News.com: Troubled wireless operator Sprint Nextel continued to lose customers in the first quarter of 2009 as financial losses mounted amid stiff competition in the wireless market.

Sprint reported a loss of $594 million or 21 cents per share for the three months ended March 31, a decline of 18 percent compared to the loss of $505 million or 18 cents per share for the same quarter a year ago. Revenue was also down about 12 percent to $8.21 billion. Analysts had expected about $8.28 billion in revenue.

The company lost a total of about 182,000 wireless customers to end the quarter with a total of 49.1 million wireless customers. It finished 2008 with about 49.3 million wireless customers.

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