Wednesday, October 25, 2017

Sprint's revenue declines but income rises as it gains subscribers

Driven by lower wireless and wireline service revenue, partially offset by higher equipment revenue, Sprint reported net operating revenues of $7.9 billion for the quarter declined $320 million year-over-year and declined $230 million sequentially.  Sprint reported operating income of $601 million and its highest fiscal second quarter adjusted EBITDA in 10 years at $2.7 billion.

Some highlights:

  • The company had 378,000 net additions in the current quarter compared with 599,000 in the year ago period and 61,000 net additions in the prior quarter.
  • Sprint ended the quarter with just over 54.0 million connections, including 31.7 million postpaid, 8.7 million prepaid, and 13.6 million wholesale and affiliate connections.
  • The company has had nearly 1.4 million net additions over the last four quarters.
  • Postpaid net additions were 168,000 during the quarter compared to net additions of 344,000 in the year-ago period and net losses of 39,000 in the prior quarter. 
  • Tablet and other device net losses of 111,000 in the quarter compared to 3,000 in the year-ago period and 127,000 in the prior quarter. 

“Sprint was able to deliver net additions in both its postpaid phone and prepaid business for the third consecutive quarter,” said Sprint CEO Marcelo Claure. “I’m even more proud that the team was able to deliver this customer growth while continuing to attack the cost structure, improve the network, and maintain positive adjusted free cash flow.”



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