Sprint Corp. (NYSE: S) reported Q3 EPS of ($0.21), versus ($0.60) reported last year. Revenue for the quarter came in at $8.1 billion versus the consensus estimate of $8.69 billion.

Adjusting for the aforementioned severance and exit costs and impairment charge, net loss would have improved by approximately $300 million year-over-year, or $0.08 per share.

Highlights for the quarter:

• Operating loss of $197 million and Adjusted EBITDA* of $1.9 billion
  • Nearly $800 million of year-to-date reduction in cost of service and selling, general, and administrative expenses builds momentum for 2016 targets
• Raising fiscal year 2015 Adjusted EBITDA* guidance from previous expectation of $6.8 billion to $7.1 billion to a range of $7.7 billion to $8 billion
  • Preliminary estimate for fiscal year 2016 Adjusted EBITDA* of approximately $9.5 billion to $10 billion
• Sprint platform postpaid net additions of 501,000 improved by 471,000 year-over-year
  • Highest postpaid net ports on record and net port positive for the fourth consecutive quarter
• Sprint platform postpaid phone net additions of 366,000 compared to net losses of 205,000 in the prior year quarter – an improvement of 571,000 year-over-year
  • Highest net additions in three years and positive for the second consecutive quarter
• Lowest-ever third quarter Sprint platform postpaid churn of 1.62 percent improved 68 basis points from the prior year quarter
  • Best year-over-year improvement in 12 years
• Significant steps taken to improve liquidity
  • Completed first sale-leaseback transaction with Mobile Leasing Solutions, LLC, providing $1.1 billion in cash in December
  • Increased existing receivables facility by $1 billion to $4.3 billion of total capacity
• Network performing at best-ever levels across voice and data metrics with average download speeds more than tripling over the last two years
  • Delivered the fastest download speeds of any national carrier according to Nielsen crowd-sourced data
  • Most metro RootMetrics® RootScore® awards in the company’s history in the second half of 2015

“It’s clear from our quarterly results that we are making great progress on achieving our goals,” said Sprint CEO Marcelo Claure. “Revenue has stabilized, costs are coming out faster than expected, postpaid phone net additions were the highest in three years, postpaid churn was the lowest-ever for a third quarter, and the network is performing at best-ever levels.”

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