Sprint loss shrinks on cost cuts, user gains; shares soar 22 percent
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Sprint Corp. (S) Reports Q3 Loss of $0.21; Raises Adj-EBITDA Guidance
January 26, 2016 7:42 AM ESTSprint 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 billionNearly $800 million of year-to-date reduction in cost of service and selling, general, and administrative... More