Sprint Corp. (S) Reports Q2 Loss of $0.04

October 25, 2016 7:42 AM EDT

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Sprint Corp. (NYSE: S) reported Q2 EPS of ($0.04), versus ($0.15) reported last year. Revenue for the quarter came in at $8.25 billion versus the consensus estimate of $8.69 billion.

Postpaid phone net additions of 347,000 doubled from the prior quarter and improved from 62,000 in the prior year – a year-over-year increase of more than five times

  • Postpaid phone churn of 1.37 percent is the best in company history and improved year-over-year for the seventh consecutive quarter
  • Postpaid phone gross additions increased nearly 20 percent year-over-year
  • Postpaid net port positive against all three national carriers for the second quarter in a row

Other highlights:

  • Net loss of $142 million, or $0.04 per share, in the quarter compared to a net loss of $585 million, or $0.15 per share, in the year-ago period, an improvement of $443 million, or $0.11 per share.
  • Operating income of $622 million in the quarter compared to an operating loss of $2 million in the year-ago period, an improvement of $624 million. The current quarter included a non-cash pre-tax gain of $354 million related to spectrum swaps with other carriers that was partially offset by $103 million of litigation and other contingency expenses.
  • Adjusted EBITDA* of $2.35 billion in the quarter compared to $2.01 billion in the year-ago period, an increase of approximately $340 million or 17 percent. The improvement was primarily due to higher operating revenues and lower cost of services and SG&A expenses, partially offset by higher cost of products expenses.
  • Net cash provided by operating activities was $1.71 billion in the quarter compared to $1.67 billion in the year-ago period, an improvement of $39 million.
  • Adjusted free cash flow* was positive $707 million in the quarter compared to negative $100 million in the year-ago period, an improvement of $807 million.

For earnings history and earnings-related data on Sprint Corp. (S) click here.



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