johnl@iecc.cambridge.ma.us (John R. Levine) (02/09/91)
An article on the business wire today reports that 4th quarter 1990
revenues for US Sprint were $1.33 billion, compared to $1.28 in the
3Q90. For the full year, revenues were $5.06 billion compared to
$4.32 billion in 1989, a dollar increase of 17% and a 23% increase in
minutes used.
Net profit for 4Q90 was $51 million, for 3Q90 was $54 million. For
the year 1990, profit was $220 million before a non-recurring charge
of $72 million, compared to $220 million in 1989. They attribute the
drop in profits to increased advertising, sales, and marketing.
Sprint is a subsidiary of US Telecom, but they break out Sprint's
numbers in their report. By revenues, Sprint is about twice as big as
US Telecom's local telco business and is now somewhat more than half
of their total business.
While this isn't exactly printing money, considering that a few years
ago Sprint was losing money so fast that there was serious talk of
shutting them down, they've come a long way.
Regards,
John Levine, johnl@iecc.cambridge.ma.us, {spdcc|ima|world}!iecc!johnl
[Moderator's Note: Yes, they certainly have come a long way since
their beginning as the:
<S>outhern <P>acific <R>ailroad <I>nternal <N>etwork <T>elecommunications
department at the railroad. When they got the idea back in the middle
1970's to sell the excess capacity on their new network I wonder if
they had any idea how it would grow ... PAT]