Investors Cheer Sprint's Q2 Guidance
Investors of Sprint Corp (NYSE: S) greeted the outlook for the second-quarter preliminary results by lifting the stock price in the pre-market trading.
The fourth biggest telecom service provider expects total net operating revenues of $8.25 billion for the second quarter, representing 3 percent year-over-year growth. This is better than the analysts' estimates of $8.02 billion. Revenue from wireless accounted for $7.85 billion reflecting a growth of nearly 5 percent.
Sprint also sees a smaller loss of $142 million in the second quarter compared to a net loss of $585 million recorded in the year-ago period.
The company ceded its third biggest telecom services provider to T-Mobile US Inc (NASDAQ: TMUS) last year.
Sprint's total net additions in the second quarter were 740,000. Similarly, its total postpaid churn improved two basis points to 1.52 percent while postpaid phone churn improved 12 basis points to 1.37 percent.
Following this, Sprint shares gained $0.11, or 1.59 percent, to $7.03. T-Mobile closed at $46.52 on Monday's regular trading.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email email@example.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.