Sprint (S) Raising Guidance and Cutting Costs - FBR
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UPDATE: Oppenheimer Upgrades Sprint (S) to Perform
January 27, 2016 7:50 AM EST(Updated - January 27, 2016 9:24 AM EST)
Oppenheimer upgraded Sprint (NYSE: S) from Underperform to Perform. The change follows the release of Q3 results. Analyst Timothy Horan noted its network is improving and he pointed out lower expenses.
"Sprint reported a... More
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