US-based telco Sprint Nextel’s CFO Bob Brust stated earlier this week that the operator plans to cut debt faster and hinted that it could resume quarterly revenue growth in 2010, for the first time in four years, causing shares to rise as much as…
US-based telco Sprint Nextel’s CFO Bob Brust stated earlier this week that the operator plans to cut debt faster and hinted that it could resume quarterly revenue growth in 2010, for the first time in four years, causing shares to rise as much as 5%.
Brust stated that the increase in revenue was possible by year-end, but that the following year would perhaps be more likely. He added that Sprint continues to be focused on cutting its costs and aims to pay debt, as it has US$5.2bn worth of debt due in the coming 30 months.
The CFO concluded that the telco is keen to maintain its majority stake in fellow US operator Clearwire and is ready to make investments in this, and that it is fully funded for 2010, but may well need more cash next year.
