Sprint Corp. said the PCS group added approximately 1 million subscribers to its PCS network in the fourth quarter, including 390,000 direct additions and more than 610,000 additions from strategic partners.
Analyst expectations for Sprint PCS’ customer growth ranged from 350,000 to 550,000 net subscribers. During recent quarters, Sprint PCS has failed to top the more than the 371,000 customers it added during the fourth quarter of 2002.
Churn is expected to be 2.7 percent, slightly lower than analyst predictions of 2.9 percent. For the full-year 2003, total direct net additions are expected to exceed 1.1 million, and total subscribers added to the PCS network are expected to be more than 2 million, bringing year-end subscribers on the PCS network to more than 20 million.
In addition to discussing expected customer results, Sprint’s Chairman and Chief Executive Officer Gary Forsee is expected to review the company’s plans to become a more customer-centric operation later today at the Smith Barney Citigroup Entertainment Media and Telecommunications Conference.
