Sprint: returns to profit in first-quarter.
(CercleFinance.com) - Sprint has returned to profit for the first time in three years in the first quarter of its fiscal year 2017, as the US mobile service provider also posted top-line growth.
The company reported first-quarter profit of 206 million dollars, compared with a loss of 302 million dollars a year ago.
The group's operating profit rose to 1.16 billion dollars, from 361 million dollars one year ago, while net operating revenues amounted to 8.2 billion dollars, up 2% year-on-year.
The company said it added 61,000 net customers over the quarter, including postpaid net losses of 39,000.
But Sprint also delivered nearly 370 million dollars of combined y-o-y reductions in cost of services and selling general and administrative (SG&A) expenses over the quarter.
The operator increased the lower end of its previous operating income expectations for fiscal year 2017, now expecting operating income of 2.1 billion dollars to 2.5 billion dollars, from a previous expectation of 2 billion to 2.5 billion dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The company reported first-quarter profit of 206 million dollars, compared with a loss of 302 million dollars a year ago.
The group's operating profit rose to 1.16 billion dollars, from 361 million dollars one year ago, while net operating revenues amounted to 8.2 billion dollars, up 2% year-on-year.
The company said it added 61,000 net customers over the quarter, including postpaid net losses of 39,000.
But Sprint also delivered nearly 370 million dollars of combined y-o-y reductions in cost of services and selling general and administrative (SG&A) expenses over the quarter.
The operator increased the lower end of its previous operating income expectations for fiscal year 2017, now expecting operating income of 2.1 billion dollars to 2.5 billion dollars, from a previous expectation of 2 billion to 2.5 billion dollars.
Copyright (c) 2017 CercleFinance.com. All rights reserved.