Sprint experiences losses to the tunes of $384 million in Q2

Sprint Nextel Logo Engadget iMobile reports that Sprint has recently lost $384 million as was displayed in its Q2 reports. Not only this, it also lost 257,000 subscribers.

To make matter worse, the Palm Pre is going to Verizon early 2010 and AT&T will carry another webOS handset.

However, this news is definitely an improvement when compared to Sprint’s earnings six months ago. Previously, they lost a billion dollars and said goodbye to over a million customers.

“In the second quarter, we made further progress on our efforts to enhance financial stability, improve the customer experience and reinvigorate the brand,” commneted Dan Hesse, Sprint Nextel CEO. “The widespread visibility surrounding our record-breaking June launch of the Palm Pre handset gave us an unprecedented opportunity to showcase these improvements to customers as ‘a new Sprint.’ They saw a 3G network described by PC World magazine as the most reliable among competitors, key satisfaction and performance metrics in customer care improving for 18 straight months, advertising that won the top international award in Cannes, and a stable balance sheet with 2009 long-term debt maturities paid and enough cash on hand to cover maturities through 2011.”

Recently, Sprint purchased Virgin Mobile USA for $483 million. Hopefully this venture will boost prospects for USA’s third largest network operator.

Sprint could probably turn things around if they get their hands on another amazing smartphone such as the HTC Hero perhaps.