Money | Sprint Sprint Won't Profit on iPhone Until 2015 But hey, company is losing less money than it has in years By Kevin Spak Posted Oct 27, 2011 9:25 AM CDT Copied A man uses a cell phone as he passes a Sprint store, Wednesday, Oct. 27, 2010 in New York. Sprint Nextel Corp. on Wednesday reported its first quarterly revenue increase in three years. (AP Photo/Mark Lennihan) Sprint’s latest earnings reveal just how pricey its deal to get the iPhone was—and the numbers aren’t pretty. Spring is staring down a $2.2 billion cash shortfall next year, and will come up short by $5.2 billion the year after as it pays for the millions of iPhones it has ordered, and the deal isn’t expected to actually turn a profit until at least 2015, the Wall Street Journal reports. At the same time, Sprint is going to have to dole out around $5 billion to upgrade its network to a 4G standard similar to AT&T and Verizon. Still, the news wasn’t all bad: Sprint added 1.3 million new subscribers in the quarter, and posted its smallest quarterly loss—$301 million—in four years, the AP reports. Revenue was up 2.2%. Read These Next Colbert tells audience it's curtains for his Late Show. The country of Eswatini is about to be on your radar. This is why you don't wear metal in MRI rooms. Two of Iran's enrichment sites reportedly could be back soon. Report an error