Sprint posts smallest quarterly loss in 4 years

0
9

NEW YORK (AP) ? Sprint is reporting its smallest quarterly loss in four years, as it’s continuing a turnaround and getting better at keeping and attracting customers.

The country’s No. 3 wireless carrier added a net 1.3 million subscribers in the July to September period, the best result since 2006. It continued to lose subscribers from its lucrative contract-based plans, but at a relatively low rate: 44,000 in the quarter.

Sprint Nextel Corp.’s net loss was $301 million, or 10 cents per share, for the third quarter. That’s down from $911 million, or 28 cents per share, a year ago.

Revenue rose 2.2 percent to $8.3 billion.

Analysts polled by FactSet expected a loss of 22 cents per share on $8.4 billion in revenue.

Its shares jumped 8 percent to $2.92 in premarket trading.