Sprint Nextel Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2010. For the quarter, the company reported consolidated net operating revenues of $8.02 billion were approximately 1% lower than $8.14 billion in the second quarter of 2009 and the first quarter of 2010. The year over year decline is primarily due to lower postpaid wireless service revenues and wireline revenues, partially offset by increases from fourth quarter 2009 acquisitions, prepaid Boost service revenues and total equipment revenues. Adjusted OIBDA was $1.5 billion, compared to $1.8 billion for the second quarter of 2009 and $1.5 billion for the first quarter of 2010. The year over year decline in adjusted OIBDA was primarily due to lower postpaid wireless service and wireline revenues and higher subsidy costs resulting from improvement in retail subscriber gross additions, as well as a greater mix of postpaid smartphones sold, which on average carry a higher subsidy rate. Capital expenditures were $417 million, compared to $340 million in the second quarter of 2009. Net loss was $760 million or $0.25 per basic and diluted common share, compared to net income of $865 million or $0.29 per basic and diluted common share, a year ago. Operating loss was $63 million compared to $113 million a year ago. Loss before income taxes was $713 million compared to $609 million a year ago. OIBDA was $1,572 million compared to $1,798 million a year ago. Net cash provided by operating activities was $1,255 million compared to $1,152 million a year ago. For the year to date, the companys net loss was $1,625 million or $0.54 per basic and diluted common share on total operating revenue of $16,110 million, compared to net income of $978 million or $0.34 per basic and diluted common share on total operating revenue of $16,350 million, a year ago. Operating loss was $243 million compared to $600 million a year ago. Loss before income taxes was $1,507 million compared to $1,733 million a year ago. OIBDA was $3,067 million compared to $3,194 million a year ago. Adjusted OIBDA was $2,979 million compared to $3,492 million a year ago. Net cash provided by operating activities was $2,377 million compared to $2,515 million a year ago. Capital expenditures were $922 million compared to $717 million a year ago. Net debt was $16,024 million compared to $17,137 million a year ago. The company provided capital expenditure guidance for the full year of 2010. The company continues to expect full year capital expenditures in 2010 to be up to $2 billion. In addition, the company expects to continue to generate positive free cash flow during the remainder of 2010.

Sprint Nextel Corp. said that the company expects to end the year with $4 billion in cash. Chief Executive, Dan Hesse said that this cash balance could be enough for him to consider acquisitions, if they made sense for the company. It really depends what presents itself in 2010, Hesse told CNBC in a television interview on July 28, 2010. "We have, if you will, the dry powder if we so choose to use it, he added.

Sprint Nextel Corp. has expanded availability of NextMail, powered by Pacific DataVision, to all Sprint devices, including the new HTC EVO 4G to enable communications for mobile workers. NextMail allows mobile professionals to send a recorded voice message to up to 50 e-mail addresses, or also send the voice message via text message to up to 50 mobile devices and receive a 'listen to' notification. It allows users to record, document and share information from the field to office colleagues. NextMail Professional offers users the ability to include location information and pictures with a NextMail message.