Sprint, the US’ fourth largest carrier, has posted their fiscal 2nd quarter (calendar 3rd quarter) financial report today. The report was better than analysts expected but the company still had a $48 million loss for the period ending September 30, 2017. The company reported an operating income of $601 million with earnings of $2.7 billion before EBIDA.
The carrier added some 279,000 post-paid phones in the last quarter with 95,000 pre-paid net adds. That is a massive swing from the same quarter in 2016 where the company reported 449,000 pre-paid losses. The post-paid additions also represents 9 consecutive quarters that the carrier has increased subscriptions.
The carrier also reported that it has $6.4 billion in cash reserves with a total of $11.4 billion in liquidity.
It has been widely reported that Sprint has been struggling for years but new leadership and direction, as well as revamped advertising campaign, has brought refreshed hope for the carrier.
You can read the full details of the financial report on the Sprint Investors site. This quarter’s report can be found here (and Sprint makes theirs very easy to read, even if you aren’t a financial type)
The rumors still persist that T-Mobile and Sprint will be merging before the end of 2017. It was expected that the merge would happen this quarter but last minute details needing to be ironed out delayed it.
