Sprint: raises earnings forecast; to invest 'billions' in 5G
(CercleFinance.com) - Sprint has raised its earnings estimates for the current year as the company reported an "inflection" in quarterly wireless service revenue, which grew sequentially for the first time in over four years.
Sprint said it had increased its target for 2018 adjusted EBITDA to a range of 12 billion to 12.5 billion dollars from its previous forecast of 11.6 billion to 12.1 billion dollars.
Sprint said adjusted EBITDA rose to 3.3 billion dollars in the past quarter, up from 2.8 billion dollars in the same period of 2017.
Operating revenue was flat at 8.1 billion dollars, although the group said that postpaid phone subscriber net additions rose to 87,000 over the quarter, compared to just 55,000 in the prior quarter.
Sprint also committed to invest "billions" in its next-generation network and said it planned to launch mobile 5G in nine towns in the first half of 2019: Atlanta, Chicago, Dallas, Houston, Kansas City, Los Angeles, New York City, Phoenix and Washington D.C.
The shares are currently up 2.4% in pre-market trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Sprint said it had increased its target for 2018 adjusted EBITDA to a range of 12 billion to 12.5 billion dollars from its previous forecast of 11.6 billion to 12.1 billion dollars.
Sprint said adjusted EBITDA rose to 3.3 billion dollars in the past quarter, up from 2.8 billion dollars in the same period of 2017.
Operating revenue was flat at 8.1 billion dollars, although the group said that postpaid phone subscriber net additions rose to 87,000 over the quarter, compared to just 55,000 in the prior quarter.
Sprint also committed to invest "billions" in its next-generation network and said it planned to launch mobile 5G in nine towns in the first half of 2019: Atlanta, Chicago, Dallas, Houston, Kansas City, Los Angeles, New York City, Phoenix and Washington D.C.
The shares are currently up 2.4% in pre-market trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.