Sprint Nextel reported strong third-quarter results after Sprint’s $35 billion acquisition of Nextel Communications in August. The third largest US mobile phone group reported third-quarter profits of $516 million on net operating revenues that increased by 35 per cent to $9.3 billion. The profit compares with a loss of $1.91 billion a year earlier. Pro forma-adjusted operating income increased by 46 per cent to $1.32 billion, consolidated revenues grew by 8 per cent to $11.2 billion, boosted by double-digit growth in Sprint Nextel’s wireless business, a steady contribution from the local phone business and improved performance from the long distance business. Sprint Nextel’s core wireless operations reported pro forma revenue growth of 12 per cent and contributed 72 per cent of the group’s total revenues in the quarter.
