Sprint Wireless Users to Drop in Quarter
Bloomberg News
Sprint Corp. is losing mobile-phone customers at a faster rate than it adds them for the first time, partly because some are not paying bills.
Sprint’s PCS unit expects the rate of service cancellations to rise to a “high 3% range” in the third quarter, from 2.9% in the second period. PCS profit, excluding certain costs, will miss the company’s forecast.
Shares that track the PCS unit fell 16 cents to $2.58 on the New York Stock Exchange.
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