UPDATE: Sprint Nextel Posts Q1 Loss

Sprint Nextel

posted a loss in the first quarter. Sprint Nextel posted a quarterly loss of $643 million, or $0.21 per share, versus a year-ago loss of $863 million, or $0.29 per share. Its total revenue climbed 1% to $8.79 billion from $8.73 billion. However, analysts were expecting a loss of $0.32 per share on revenue of $8.73 billion. Sprint Nextel shares fell 0.70% to $7.05 in pre-market trading.