Sprint Nextel Corp. posts falling profits in the most recent quarter

Sprint Nextel Corp. posts falling profits in the most recent quarter

Sprint Nextel Corp. has come out with their latest revenue reports and they have posted profits, which fell down 38 per cent.

The company suffered from excessive costs of merger between the two entities Sprint and Nextel.

Sprint Nextel posted earnings of $370 million, which comes to around 12 cents a share. This was down from $599 million, or 40 cents per share they earned in the same period last year.

If the company does not include the cost of the merger, the earnings come to around 32 cents per share. This is somewhat lower than what the market had expected from them.

The revenues for the company were up 76% at $10 billion from $5.7 billion a year ago. This also failed to match the market expectations of $10.4 billion.