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Edition: U.S. Article Comments (0) Technology Sony faces global legal action over data theft Exclusive: Facebook investors look for exits Samsung launches Galaxy S sequel Sprint pumps up revenue with new fees Panasonic to axe thousands of jobs, close plants EBay forecast pleases on user gains Follow Reuters Facebook Twitter RSS YouTube Read Exclusive: Facebook investors look for exits 9:23am EDT Storms knock out TVA nuclear units, power lines 27 Apr 2011 Tornadoes and storms rip through South, more than 220 dead | 11:40am EDT Honolulu has best air in U.S., Los Angeles and others the worst: report 5:47am EDT William and Kate "deeply touched" by well-wishers | 8:50am EDT Discussed 150 Texas governor calls for prayers for rain 139 Obama sees no magic bullet to push down gas prices 93 White House releases longer Obama birth certificate Watched Fire ants form rafts to defy floods Tue, Apr 26 2011 Nokia announces layoffs, outsourcing Wed, Apr 27 2011 Simon the robot requests your attention Tue, Apr 26 2011 Sprint pumps up revenue with new fees Tweet Share this By Sinead Carew NEW YORK (Reuters) - Sprint Nextel's first-quarter revenue was higher than expected as the company tacked on a new fee for smartphone customers, sending its shares up more than 3 percent. Although it lost more wireless subscribers... Email Print Related News Egypt's Mobinil Q1 net tumbles 93.6 pct Wed, Apr 27 2011 Egypt's Mobinil Q1 net profit tumbles 93.6 pct to $3.8 mln Wed, Apr 27 2011 UPDATE 3-Solid wireless growth lifts Rogers profit Tue, Apr 26 2011 Netflix profit rises, but outlook disappoints Mon, Apr 25 2011 RadioShack profit hurt by T-Mobile Mon, Apr 25 2011 Analysis & Opinion Why analysts hate putting out sell ratings Tech wrap: Apple beats Google to the music cloud Related Topics Technology » Hot Stocks » Asian Markets » Media » Stocks Dan Hesse, Chief Executive Officer of Sprint Nextel gestures during the unveiling of the HTC Evo 3D and the HTC Evo View 4G tablet at the International CTIA wireless industry conference at the Orange County Convention Center in Orlando, Florida March 22, 2011. Credit: Reuters/Scott A. Miller By Sinead Carew NEW YORK | Thu Apr 28, 2011 10:40am EDT NEW YORK (Reuters) - Sprint Nextel's first-quarter revenue was higher than expected as the company tacked on a new fee for smartphone customers, sending its shares up more than 3 percent. Although it lost more wireless subscribers than expected in the first quarter as it faced new competition from Verizon Wireless, which launched the Apple Inc iPhone in February, its higher revenue and a lower-than-expected net loss particularly impressed analysts. But while the new competition hurt customer growth, Sprint's new $10 monthly fee for smartphone users, introduced in late January, did not stop customers from upgrading their devices, Chief Executive Dan Hesse told analysts on a conference call. "Even after the $10 charge, our pricing is very, very competitive," Hesse said. Sprint has been clawing its way back from years of subscriber losses to bigger rivals such as Verizon Wireless and AT&T Inc.. Sprint, the No. 3 U.S. mobile service, is opposing AT&T's proposed $39 billion purchase of No. 4 U.S. mobile service T-Mobile USA, a Deutsche Telekom AG unit, on the grounds it will give too much competitive power to one company. In the fourth quarter, Sprint had reported growth in subscribers who pay monthly bills for the first time in more than three years, but that category reverted to a net loss in the first quarter amid stiff competition. However, Sprint's revenue rose about 3 percent to $8.3 billion, and was above the analyst expectations for $8.19 billion, according to Thomson Reuters I/B/E/S. Its average monthly revenue per subscriber (ARPU) of $56 rose from $55 in the year-ago quarter and was well ahead of analyst expectations, according to Pacific Crest analyst Steve Clement who had been expecting ARPU of $55.30. "The postpaid net adds was the one area below expectations. Everything else looked solid," Clement said, referring to high-value postpaid subscribers who pay monthly bills and commit to long-term contracts. Sprint lost 114,000 subscribers in the quarter. While this was much better than its 578,000 losses in the year-ago quarter, it was worse than the average estimate for losses approaching 40,000 from seven analysts contacted by Reuters. In comparison, Verizon Wireless added 906,000 subscribers in the first quarter of 2011 while the No. 2 U.S. mobile service, AT&T, added 62,000 subscribers. The company said it added 1.1 million customers in the quarter including prepaid customers who pay for calls in advance but do not commit to a long-term contract. Sprint's 846,000 prepaid net additions was its best ever, it said. Mizuho analyst Michael Nelson said prepaid additions were well ahead of his expectation for 450,000. "These are favorable results, they're encouraging. The company is making steady progress improving its wireless business," Nelson said. Sprint's net loss narrowed to $439 million, or 15 cents per share, from a loss of $865 million, or 29 cents per share, a year earlier and was much better than analyst expectations for a loss of 22 cents per share. Sprint shares were up 16 cents or 3.3 percent at $4.95 in morning trade on the New York Stock Exchange. (Reporting by Sinead Carew; editing by Derek Caney and Matthew Lewis) Technology Hot Stocks Asian Markets Media Tweet this Share this Link this Digg this Email Reprints We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language, all capital letters or appear to be spam, and we review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

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