Sprint Corp., buoyed by surprising customer gains and confident in its improving network, is talking about raising prices.
CEO Marcelo Claure promised an end to the company’s long-running half-off rate plan promotion “in the not-so-distant future.” Sprint has been forced to compete with lower prices than its rivals because of a weaker network, but Claure said that is changing.
His comments came Monday as the Overland Park, Kan.-based wireless carrier released its latest financial report and said it gained customers in the second quarter at the expense of all three of its national rivals. Sprint ended June with 59.453 million subscribers, still fourth among national carriers but up from 56.812 million a year ago.
The news caught Wall Street by surprise, and investors bid up Sprint shares by $1.28 to $5.908, a 27.71 percent gain.
Read more: Kansas City Star