Sprint Corp. (NYSE: S) reported Q1 adjusted EBITDA of $2.1 billion. Revenue for the quarter came in at $8 billion versus the consensus estimate of $8.69 billion.

Sprint raised fiscal year 2015 Adjusted EBITDA outlook from $6.5 to $6.9 billion to $7.2 to $7.6 billion.

Other Highlights:

• Sprint platform postpaid phone losses were 12,000 in the quarter with phone net additions in May, June and July
  • Improved sequentially for the fifth consecutive quarter and by over 600,000 year-over-year
• Best-ever Sprint platform postpaid churn of 1.56 percent improved 49 basis points year-over-year
• Sprint platform net additions of 675,000 compared to net losses of 220,000 in the prior year quarter
• Massive improvement in network performance
  • Earned 180 RootScore® awards in the first-half of 2015 compared to only 27 a year ago
  • Deployment of carrier aggregation bringing greater data speed and capacity to customers
• Operating Income of $501 million and Adjusted EBITDA of $2.1 billion

"Over the past year, Sprint has made meaningful progress in our turnaround by improving our network performance and enhancing our overall value proposition,” said Sprint CEO Marcelo Claure. “As a result, we hit significant milestones during the quarter by posting the company’s lowest-ever churn and recording postpaid phone net additions in both May and June, as well as for a third consecutive month in July. Going forward, we are confident in our plan to leverage our unique spectrum assets to make our network a competitive advantage, aggressively reduce operating costs, and utilize our business relationships and assets to fund our turnaround

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