Published: Wed, August 02, 2017
Markets | By Erika Turner

Sprint profitable for first time in three years

Sprint profitable for first time in three years

Sprint, which is in the middle of a turnaround plan, has been looking to boost its financial status and better compete amid a fiercely competitive and saturated market for wireless service. Sprint now expects operating income of $2.1 billion to $2.5 billion, up from $2 billion to $2.5 billion.

In terms of customer growth, Sprint lost postpaid customers for a second consecutive quarter.

"We have plenty of options, and we've had discussions with a lot of different parties", he said.

After Charter rebuffed an overture over the weekend that would essentially have the No. 2 cable company buy SoftBank's No. 4 USA wireless carrier, Sprint, Bloomberg said that Son will try to buy Charter outright and combine it with Sprint. Rather, he said, it was part of the "bigger play that has been reported".

It would be possible that either could put enough cash into a new entity, which could then acquire Charter and Sprint, while also keeping the combined Softbank-Vision Fund stake in the new entity at or above 50%. Our skepticism about Sprint's deal-making has nothing to do with Sprint's intrinsic attractiveness; its subscriber base is inherently appealing to anyone wanting scale, and its spectrum trove of 2.5 GHz spectrum really does have incremental value.

President Trump reportedly 'personally dictated' Junior's misleading Russian Federation statement
But "it could be relevant in determining whether something else the president did, like firing (former FBI Director James) Comey, was done corruptly".

A deal is coming, he promised, adding he was "highly encouraged" by early talks with potential partners. Revenue for the quarter was $8.16 billion, up from $8.01 billion past year.

"The obvious risk in so openly courting one potential suitor after another is that Sprint will increasingly be viewed as damaged goods", he said in a research note. On target to cut up to $1.5 billion this year, the carrier said it made a profit of $206 million, or five cents a share, in the three months ended June 30, its fiscal first quarter.

The net result was a profit of United States dollars 206 million compared to a loss of USD 302 million a year ago, due in part to the reversal of some legal provisions. Revenue dropped 4.5% to $8.16 billion.

Sprint also scored 35,000 new pre-paid additions, up from a loss of 306,000 in the same period past year, but less than the 291,000 prepaid additions in the preceding quarter.

Sprint added 88,000 net postpaid (contract) subscribers in the first quarter, compared to net additions totaling 173,000 in the prior year quarter.

Like this: