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Sprint loses fewer subscribers than expected on cheaper phone plans – Source Reuters Tech News

(Reuters) – Sprint Corp said on Monday it lost fewer mobile monthly postpaid phone subscribers than expected in the third quarter, benefiting from cheaper plans ahead of a merger with larger rival T-Mobile US Inc .

FILE PHOTO: A Sprint sign is seen on top of a Sprint retail store in Manhattan, New York, U.S., September 22, 2017. REUTERS/Amr Alfiky

Investors look at postpaid subscribers, or people who pay a recurring monthly bill, because they tend to stay with carriers longer and are more profitable than prepaid phone customers.

The company said it lost 115,000 postpaid phone subscribers during the quarter ended Dec 31. Analysts were expecting a net loss of 160,000 subscribers, according to research firm FactSet.

Sprint reported 1.87% postpaid phone churn, compared with 1.75% a year ago. New Street Research analysts pointed to the pace of Sprint’s decline, calling the prospects of the company grim if it does not reach a merger with larger rival T-Mobile US.

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Source Reuters Tech News

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