Right on the heels of announcing their “simply everything” plan that is not really everything Sprint has shocked us with their Q4 results for 2007. I usually do not mention this kinda thing since financials bore me but as Joshua Karp of BoyGenius explains this is some pretty serious dough that Sprint has lost.
Over the course of 2007, Sprint lost $29.5 billion. That’s a lot of money, but here’s the real kicker. Ready? Sprint is currently valued at $23 billion. Is this sinking in yet? We can be a bit more clear, just for the sake of argument. During the 4th quarter of 2007, Sprint lost over $6 billion more than it’s worth.
I am starting to think that all the unlimited plans in the world are not going to help. They have been bleeding customers like crazy but this is just ridiculous!