Sprint reports narrower losses, growth of key customers

Sprint saw growth in a key subscriber count and posted a smaller net loss than a year earlier for the quarter ended Dec. 31, the company announced Tuesday.

The Overland Park, Kansas-based mobile carrier reported the addition of 368,000 post-paid phone users, the largest quarterly net gain of those customers in four years. Post-paid users, who are billed at the end of the month, are more valuable to the company than pre-paid users.

Sprint reduced its net loss for the quarter to $479 million, or $0.12 per share. That fell short of analysts’ forecasts of a loss of $0.08 per share, according to Zacks Investment Research, but it beat the company’s loss of $0.21 per share from the same quarter last year.

“Sprint is turning the corner,” Sprint CEO Marcelo Claure said in the company’s earnings release. “Even with all the aggressive promotional offers from our competitors, we were still able to add more postpaid phone customers than both Verizon and AT&T while continuing to grow revenues, take costs out of the business, and improve the network.”

The company reported revenue of $8.55 billion, up from $8.1 billion for the same quarter last year.

Sprint’s stock rose slightly in pre-market trading. As of 7:43 a.m., the stock was priced at $9.20, up just less than 1 percent from Monday’s after-hours high of $9.11.

The earnings news comes the week after the fourth-largest U.S. mobile carrier announced it had purchased a 33 percent stake in music-streaming service Tidal.

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Daniel Levitt

Daniel is a reporter for Missouri Business Alert, and is completing is master's degree in data journalism and visualization at the University of Missouri. Get in touch at daniellevitt32@gmail.com.

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