Sprint Nextel Reports Third Quarter 2011 Results, Continues Turnaround

Sprint Nextel generated net operating revenues of $8.3 billion for Q3, 2011. The company added nearly 1.3 million wireless subscribers, its best ever in  over five years.

Apple’s iPhone 4S and iPhone 4 were fuelling growth, said Sprint, though customer acquisitions over these phones will start showing up in the earnings of the following quarter only. The launch of these phones resulted in Sprint’s best ever day of sales in retail, web and telesales for a device family in Sprint history, said Sprint.

Overall, the company reported operating incomes of $208 million, a net loss of $301 million and a diluted loss of 10 cents per share for the quarter. This compares to an operating loss of $213 million, a net loss of $911 million and a diluted loss of 30 cents per share, in the third quarter of 2010.

(Dan Hesse, CEO, Sprint ):  We are adding to our customer base, our ARPU is increasing, and as a result our wireless revenues are growing.

You can find the company’s quarterly earnings statements here.

Also see:

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.

AP to equip visual journalists globally with Sony imaging products

Sony and The Associated Press (AP) have inked a collaboration that will make Sony the exclusive imaging products and support provider for AP news photographers and video journalists globally.

Equifax acquires Ansonia

Equifax has acquired Ansonia, a provider of business credit, collections, and account receivable data used by financial institutions, creditors, and businesses focused on the transportation and logistics industries.