Sprint to launch commercial 5G services

Sprint Standards-based 5G is currently on-air in select locations and commercial 5G service is expected to launch in the coming weeks.

Chicago, Atlanta, Dallas and Kansas City are expected to be among the first cities to offer commercial 5G service. Houston, Los Angeles, New York City, Phoenix and Washington D.C. is slated to launch by the end of June 2019.

The total initial 5G coverage footprint across all nine cities is expected to be more than 1,000 square miles. The company has also announced standards-based 5G devices from LG, HTC and Samsung that will be available soon.

Sprint now has 2.5 GHz spectrum deployed on approximately 80 percent of its macro sites. The company currently has approximately 30,000 outdoor small cells deployed including both mini macros and strand mounts. The operator has deployed approximately 1,500 Massive MIMO radios, which increase the speed and capacity of the LTE network and, with a software upgrade, will provide mobile 5G service in select cities in the coming weeks.

Sprint today reported results for the fiscal year 2018 fourth quarter and full year, including a stabilization of wireless service revenue and continued growth in postpaid net additions. The company reported a net loss of $1.9 billion and operating income of $398 million, both of which included a preliminary non-cash charge of $2 billion, along with adjusted EBITDA of $12.8 billion in fiscal year 2018.

Net loss of $1.9 billion for the year compared to net income of $7.4 billion in the prior year, as fiscal year 2018 included a preliminary non-cash goodwill impairment charge of $2 billion and fiscal year 2017 results included a $7.1 billion non-cash benefit from tax reform.

“Sprint delivered on its plan for fiscal 2018, as we met all of our financial guidance for the year,” said Sprint CEO Michel Combes.

“While we’ve made progress, there are certainly continued challenges to address, which will continue to put pressure on our service revenue and retail customer growth,” added Combes.

The new revenue recognition standard had a positive impact on reported net income of $146 million and $678 million in the fiscal year 2018 fourth quarter and full year, respectively. The new standard also had a positive impact on reported operating income and adjusted EBITDA of $185 million and $858 million in the fiscal year 2018 fourth quarter and full year, respectively.

 

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