Marcelo Claure | Via World Economics Forum/Flickr

Sprint posts rare profit, says a deal may be coming soon



Sprint said Tuesday that it should be able to “strike a deal” in the “near future,” driving up shares of the fourth-largest U.S. wireless carrier.

The Overland Park, Kansas, company also posted its first quarterly profit in three years as it cut costs.

Debt-heavy Sprint has been trying to turn its business around, and CEO Marcelo Claure said on a call with analysts Tuesday that it could “sustain itself” alone. But he said that the cost savings and potential benefits of hooking up with another phone company or a cable company would leave Sprint in a better position.

Claure said that “we think in the near future, we should be able to strike a deal with one of the different players.”

Sprint has long sought a deal as the wireless market has gotten more competitive.

In its latest quarter, Sprint added 88,000 customers that pay a monthly bill, its most lucrative customers, versus 173,000 the year before. It gained prepaid customers compared with a loss the year before.

Overall, the company reported fiscal first-quarter net income of $206 million, or 5 cents per share. In the same period a year ago, it reported a net loss of $302 million, or 8 cents per share.

Read more: Kansas City Star, Kansas City Business Journal

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