Sprint's (S) Turnaround Gaining Momentum - FBR
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November 4, 2015 10:07 AM EST
Cowen reiterated a Market Perform rating and $3.50 price target on Sprint (NYSE: S) following the company's 3Q earnings report. S reported mixed revenue and EBITDA of $7.98B/$2.01B vs. the Streets $8.12B/$1.93B. The results were highlighted by positive postpaid phone... More
November 3, 2015 7:54 AM EST
By Malathi Nayak and Anya George Tharakan
(Reuters) - Sprint Corp (NYSE: S), the fourth largest U.S. wireless carrier, reported lower-than-expected quarterly results on Tuesday as promotional price cuts drove customer gains but weighed on growth.
The company, in the middle of a turnaround plan, also said it now expects fiscal 2015 adjusted EBITDA at the lower end of its previous forecast of between $7.2 billion and $7.6 billion.
Sprint shares slid 7 percent to $4.51 in afternoon trading on the New York Stock Exchange.
Under Chief Executive Marcelo Claure, the company rolled out... More
November 3, 2015 7:08 AM EST
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... More
