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Sprint Nextel Posts $1 Billion Loss, Sharpens Focus On Prepaid

The number-three wireless carrier Sprint (NYSE: S) Nextel today reported a loss of nearly $1 billion on revenues of $7.87 billion, as it continued to lose customers, albeit at a slower pace than in previous quarters.

Postpaid customers continued their exodus to Sprint’s competitors, with 504,000 leaving the network in the quarter alone. Sprint continued to perform well in the prepaid segment, adding 435,000 customers in that period. Still the WSJ points out that that figure missed expectations of around 626,000 customers added — analysts had thought that Sprint’s acquisition of Virgin Mobile (NYSE: VM) would contribute more growth to pre-paid.

The company is pushing out more devices such as the Palm (NSDQ: PALM) Pixi and Android-based devices in the hopes of retaining more customers in the year ahead. “It’s my hope and our plan that we