Wednesday, August 1, 2018

Sprint's service revenue grows again after four years

Sprint's wireless service revenue grew sequentially for the first time in more than four years and postpaid ARPU grew sequentially for the first time in nearly five years.

For the quarter, Sprint reported net income of $176 million, operating income of $815 million, and adjusted EBITDA of $3.3 billion.

"Sprint continued to deliver solid results this quarter while embarking on our transformative merger with T-Mobile," said Sprint CEO Michel Combes, "By balancing growth and profitability, we were able to grow wireless service revenue sequentially, continue to add retail phone customers, generate net income for the third consecutive quarter, and improve the network."

Some highlights:

  • Sprint ended the quarter with 54,567,000 connections, down slightly from the preceding quarter but up from 53,698,000 a year earlier. The company serves 32,187,000 post paid connections, 9,033,000 prepaid connections, and 13,347,000 wholesale connections.
  • Prepaid service revenue grew both sequentially and year-over-year.
  • CAPEX for the quarter was $1.1 billion, up from $800 million in the previous quarter