Sprint Nextel Reports Second Quarter 2007 Results
Subscriber base increases by nearly 400,000, to 54 million; lower churn contributes to positive post-paid net additions
Higher post-paid ARPU and cost reductions drive strong sequential improvement in profitability
Continued strength in wireless data and Internet Protocol (IP) services
Substantial progress on efforts to enhance core business and launch strategic initiatives
Company stock buyback of $1.1 billion in the quarter
Second Quarter Segment Results
Total revenues of $8.8 billion, an increase of 3% year-over-year and 1% sequentially; data revenues increased 40% compared to the year-ago period
Adjusted Operating Income* of $494 million, a decline compared to the second quarter of 2006 but a strong improvement from the first quarter
Adjusted OIBDA* of $2.67 billion exceeds capital investment by $1.3 billion
Total revenues of $1.6 billion, flat with the year-ago period and an increase of 2% sequentially; 37% growth in IP revenues year-over-year
Adjusted Operating Income* of $126 million, a decline from the second quarter of 2006, but a significant increase quarter-over-quarter
Adjusted OIBDA* of $259 million exceeds capital investment by $114 million
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