Sprint Corp. (S) Reports Q2 Loss of $0.15/Share

Sprint Corp. (NYSE: S) reported Q2 EPS of ($0.15), versus ($0.19) reported last year. Revenue for the quarter came in at $7.98 billion, versus $8.49 billion reported last year.

Consolidated Adjusted EBITDA* of $2 billion grew 45 percent from the prior year period, as expense reductions more than offset the decline in service revenues. Total expenses improved primarily due to lower cost of product expenses related to device leasing options for which the associated cost is recorded as depreciation expense and lower bad debt expense as a result of a higher acquisition mix of prime credit quality customers in recent quarters.

The company also reported the following Sprint platform results:

• Total net additions were 1.1 million compared to 590,000 in the prior year quarter - an improvement of 466,000 year-over-year.

• Postpaid net additions of 553,000 compared to net losses of 272,000 in the prior year quarter - an improvement of 825,000 year-over-year. During the quarter 199,000 prepaid customers with consistent payment history migrated to postpaid, with 175,000 of these migrations now included as postpaid customers under their respective Boost and Virgin brands. Excluding total migrations from prepaid, postpaid net additions would have been 354,000 and improved by 626,000 year-over-year.

• Postpaid phone net additions were 237,000 compared to net losses of 500,000 in the prior year quarter - an improvement of 737,000 year-over-year. Excluding migrations from prepaid, postpaid phone net additions would have been 38,000 and improved by 538,000 year-over-year.

• Prepaid net losses of 363,000 compared to net additions of 35,000 in the prior year quarter - a decline of 398,000 year-over-year. Excluding migrations to postpaid, prepaid net losses would have been 164,000 and declined by 199,000 year-over year.

• Wholesale net additions of 866,000 compared to 827,000 in the prior year quarter - an improvement of 39,000 year-over-year.

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

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