Sprint Corp. Reports Growth In Q2 Postpaid Net Additions - Quick Facts

(RTTNews) - Sprint Corp. (S) reported stability in postpaid wireless service revenue and continued growth in postpaid net additions during the second quarter of fiscal 2019. The company reported a net loss of $274 million, negatively impacted by the estimated reimbursements to federal and state governments. Postpaid net additions were 273,000 driven by growth in data devices and partially offset by postpaid phone customer losses.

For the second-quarter, loss per share was $0.07 compared to profit of $0.05, prior year. On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02, for the quarter. Analysts' estimates typically exclude special items.

Second-quarter total net operating revenues declined to $7.80 billion from $8.43 billion, prior year. Analysts expected revenue of $8.17 billion, for the quarter.

Total wireless service revenue was $5.0 billion, negatively impacted by lower Lifeline revenue as a result of estimated reimbursements to federal and state governments for subsidies. Excluding these impacts, total wireless service revenue was relatively stable year-over-year. Postpaid wireless service revenue of $4.2 billion, relatively flat year-over-year.

Sprint CEO Michel Combes said: "I remain convinced that merging with T-Mobile and building one of the world's most advanced 5G networks is the best outcome for all consumers, employees, and shareholders."