“Sprint Nextel Corp. today reported second quarter 2009 financial results that included consolidated net operating revenues of $8.1 billion, a net loss of $384 million and a diluted loss per share of 13 cents. The company generated Free Cash Flow* of $676 million in the quarter and $1.5 billion in the first half of 2009. As of June 30, 2009, the company had $4.6 billion of cash and cash equivalents and $1.5 billion of borrowing capacity available under its revolving bank credit facility, for a total liquidity of $6.1 billion.?In the second quarter, we made further progress on our efforts to enhance financial stability, improve the customer experience and reinvigorate the brand,? said 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.” Read more inside..