Sprint (S) Tops Q1 Views on Strong Net Adds; iPhone Sales Fall
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Price: $21.19 +1.19%
EPS Growth %: +75.0%
Financial Fact:
Amortization: 271M
Today's EPS Names:
BTTX, VAXX, ELYS, More
EPS Growth %: +75.0%
Financial Fact:
Amortization: 271M
Today's EPS Names:
BTTX, VAXX, ELYS, More
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Sprint (NYSE: S) shares are ripping higher Wednesday morning following stronger-than-expected results from the little brother to Verizon (NYSE: VZ) and AT&T (NYSE: T).
Revenue for Sprint rose to $8.73 billion, up 5.1 percent from $8.31 billion in the same period last year. Sprint reported a wider net loss of $863 million, or 29 cents per share.
However, despite the wider loss, the Street was expecting Sprint to report a loss of 41 cents per share with revs of $8.73 billion.
Total postpaid subs fell 192,000, total prepaid adds were 489,000, wholesale and affiliate adds were 785,000 for total wireless net adds of 1.082 million.
Sales of Apple's (Nasdaq: AAPL) iPhone were 1.5 million, with 44 percent being new subs. In comparison, Verizon activated 3.2 million and AT&T activated 4.3 million. Sprint sold 1.8 million iPhones in the last quarter.
Postpaid churn was 2.00 percent while prepaid churn was 2.92 percent.
Wireless ARPU fell 5.5 percent to $26.82.
Wireline revs fell 11 percent to $998 million.
The company expects 2012 Adjusted OIBDA to be at the high-end of the previous forecast of between $3.7 billion and $3.9 billion.
Shares are up 7.7 percent ahead of the bell.
Revenue for Sprint rose to $8.73 billion, up 5.1 percent from $8.31 billion in the same period last year. Sprint reported a wider net loss of $863 million, or 29 cents per share.
However, despite the wider loss, the Street was expecting Sprint to report a loss of 41 cents per share with revs of $8.73 billion.
Total postpaid subs fell 192,000, total prepaid adds were 489,000, wholesale and affiliate adds were 785,000 for total wireless net adds of 1.082 million.
Sales of Apple's (Nasdaq: AAPL) iPhone were 1.5 million, with 44 percent being new subs. In comparison, Verizon activated 3.2 million and AT&T activated 4.3 million. Sprint sold 1.8 million iPhones in the last quarter.
Postpaid churn was 2.00 percent while prepaid churn was 2.92 percent.
Wireless ARPU fell 5.5 percent to $26.82.
Wireline revs fell 11 percent to $998 million.
The company expects 2012 Adjusted OIBDA to be at the high-end of the previous forecast of between $3.7 billion and $3.9 billion.
Shares are up 7.7 percent ahead of the bell.
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