Sprint Nextel (S) reported third-quarter 2009 results with net loss per share of 17 cents, exceeding the Zacks Consensus Estimate of 15 cents and the year-ago loss per share of 11 cents. The third-largest US wireless carrier posted a net loss of $478 million, 47% more than the net loss of $326 million reported a year ago. Sprint remains significantly challenged by the volatile economic backdrop, which has contributed to the sustained decline in the wireless subscriber base and associated revenues. Operating revenue fell 9% year over year to $8 billion due to lower contributions from its wireline and post-paid wireless businesses. The company reported adjusted OIBDA of $1.5 billion for the quarter, down 17% year over year, due to decreased operating revenue partly offset by lower SG&A expenses. Wireless Consolidated revenue from the wireless segment was $6.9 billion, down 8% year over year, ...

Sprint Nextel (S) reported its second quarter earnings today, with a net loss exceeding consensus and our forecasts while reported revenue came in line with the average estimate. The company posted a second quarter net loss of $384 million or $0.13 per share, which is 12% higher than the net loss of $344 million or $0.12 per share reported a year ago. Operating revenue fell 10% year over year and 1% sequentially to $8.1 billion due to lower contribution from its wireless business. The total reported revenue from the wireless segment was approximately $7 billion, reflecting a year-over-year decline of 9%. Wireless service revenue registered $6.4 billion, down 9% year over year while flat sequentially, as revenue growth from Boost Monthly prepaid subscribers was offset by declines in the post-paid segment. Sprint lost a net of 257,000 subscribers in the second quarter compared to 182,000 ...

For Immediate Release

Chicago, IL – July 13, 2009 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Sprint Nextel (S), Ericsson AB (ERIC), Verizon (VZ), AT&T (T) and Infosys (INFY).

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Here are highlights from Friday’s Analyst Blog:

Sprint Outsourcing to Ericsson

The third largest US wireless carrier Sprint Nextel (S) is outsourcing its networks to Sweden-based Ericsson AB (ERIC) under a seven-year agreement worth $4.5 billion to $5 billion (almost equivalent to the cash available on Sprint’s balance sheet), representing one of the largest network

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The third largest US wireless carrier Sprint Nextel (S) is outsourcing its networks to Sweden-based Ericsson AB (ERIC) under a seven-year agreement worth $4.5 billion to $5 billion (almost equivalent to the cash available on Sprint’s balance sheet), representing one of the largest network outsourcing deals in the global telecom industry. The agreement, however, excludes the company’s high-speed wireless broadband (WiMax) network.

Ericsson, a leading manufacturer and supplier of telecommunication equipment, will manage, optimize and operate Sprint’s CDMA and iDEN technology based wireless networks as well as wireline network. On the other hand, Sprint will maintain full ownership and control of its network assets and will continue to solely make network strategy and investment decisions.

Under the agreement terms, approximately 6,000 Sprint employees will be transferred to Ericsson by the end of the third quarter of 2009 which will be followed by the shift of network operations within 1-1.5 years.

The

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Turkcell arranges partial funding for 3G investments Turkey’s largest mobile phone operator, Turkcell (TKC), has executed a loan agreement for $285 million to part finance its investments of $750 million in second- and third-generation network related expenditures. The procurement will be made from Ericsson AB and Ericsson Telekomünikasyon A.Ş. The financing is being provided by Calyon Credit Agricole Bank and Nordea Bank with partial or total guarantee of Swedish Export Credits Guarantee Board and assurance from the Swedish Export Credit Corporation. The loan is unsecured and carries an interest of 4%-4.25% per annum. The maturity period is five years and interest is payable semiannually. On November 28th, 2008, Turkcell was been granted a the A Type license providing the widest frequency band, for a consideration of €358 million, excluding VAT, following the 3G tender for the issue of the four separate licenses by the Information ...