Friday, May 10, 2019

Sprint Confronts Bankruptcy After Subscriber Drop-Off And Acquisition Stalling

The former corporate juggernaut of Johnson County is now barely staying afloat and won't be around much longer with or without government approval. Read more:

Bankruptcy Fears: Sprint Warns 'Not On Sustainable Path,' As Subscribers Collapse

Sprint reported its quarterly financial results Tuesday. CEO Michel Combes warned investors on a call that the company incurred the steepest decline in cellphone customers in nearly four years, reported The Wall Street Journal. Combes shocked investors by telling them 189,000 of its phone connections were canceled in the first three months of the year, the sharpest decline since 2015.

5 comments:

Anonymous said...

Zerohedge

Wow we are getting freaky here.

Anonymous said...

Economics and business posts don't interest the general public.

Anonymous said...

Sprint hasn't been on a sustainable path since around 1998.
A zombie company with a starring role in the "Night of the Living Dead".
It either merges or disappears entirely.
Is Overland Park going to "claw back" all the subsidies they gave these clowns?

Anonymous said...

Sprint Executive$ are doing fine. As far as the company well not so good.

Anonymous said...

I'm sure the slimy lobbyists at deep-pocketed Verizon and AT&T are doing everything they can to stop the merger of Sprint and T-Mobile. They don't want to see a stronger combined competitor fighting against them, so they can keep serving up their high prices to suckers around America. Regulators are stupid if they don't let the merger happen.