Sprint beats revenue and profit forecasts, shares increase

(Reuters) – Sprint Corp., a mobile company, surpassed Wall Street's estimates of quarterly earnings, profits, and postpaid net subscriber additions on Wednesday, pushing US player number 4 up by 7 percent. .

Sprint, which is awaiting regulatory approval for a merger with its biggest rival T-Mobile US Inc., said it has added 109,000 net subscribers who pay a monthly bill in the second quarter, compared with 168,000 new subscribers in the same period last year. last year.

Analysts on average expected the company to lose 10,000 net subscribers, according to research firm FactSet.

However, it is estimated that 22,000 telephone subscribers were added, which represents a loss of 34,000 during the quarter, while he finds it hard to believe he is struggling to keep up with investments by AT & T Inc. and Verizon Communications Inc.

Sprint reported net earnings attributable to the company of $ 196 million, or 5 cents per share, for the quarter ended September 30, compared with a net loss of $ 48 million, or 1 cent per share, one year ago. earlier.

Analysts were expecting the company to report a loss of 1 cent per share, according to Refinitiv data.

Total operating revenue increased from $ 7.93 billion to $ 8.43 billion. Analysts expected revenue of $ 7.97 billion.