Sprint: posts second-quarter loss depite revenue rising
(CercleFinance.com) - US mobile operator Sprint posted a second-quarter loss on Friday, despite revenue slightly rising in the period.
Sprint's net loss reached 114 million dollars, or 3 cents per share, from a net profit of 176 million, or 4 cents per share, compared to the consensus of a net loss of 4 cents per share.
Net operating revenue rose to 8.14 billion dollars in the past quarter, from 8.12 billion dollars a year ago.
The Overland Park, Kansas-based operator said it added 134,000 monthly subscribers in the quarter.
But the company also warned that it was still facing "several structural headwinds."
"I remain convinced the merger with T-Mobile is the best outcome for our customers, employees, industry and all stakeholders," said CEO Michel Combes.
The planned merger was recently approved by the Department of Justice, and the deal is likely to be approved by the FCC.
Sprint shares were down 3.5% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Sprint's net loss reached 114 million dollars, or 3 cents per share, from a net profit of 176 million, or 4 cents per share, compared to the consensus of a net loss of 4 cents per share.
Net operating revenue rose to 8.14 billion dollars in the past quarter, from 8.12 billion dollars a year ago.
The Overland Park, Kansas-based operator said it added 134,000 monthly subscribers in the quarter.
But the company also warned that it was still facing "several structural headwinds."
"I remain convinced the merger with T-Mobile is the best outcome for our customers, employees, industry and all stakeholders," said CEO Michel Combes.
The planned merger was recently approved by the Department of Justice, and the deal is likely to be approved by the FCC.
Sprint shares were down 3.5% after the report.
Copyright (c) 2019 CercleFinance.com. All rights reserved.