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Sprint Corp Announced Q2 Results

Financial results News - Published on Wed, 06 Nov 2019

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Sprint Corporation reported results for the fiscal year 2019 second quarter, including stability in postpaid wireless service revenue and continued growth in postpaid net additions. The company also reported a net loss of USD 274 million, operating income of USD 237 million, and adjusted EBITDA* of USD 2.6 billion.

Sprint has focused on growing its relationship with customers by promoting its feature-rich Unlimited Plus and Unlimited Premium rate plans and selling additional devices and value-added services. This strategy delivered postpaid net additions of 273,000 driven by growth in data devices and partially offset by postpaid phone customer losses. Postpaid wireless service revenue of USD 4.2 billion was relatively flat sequentially and year-over-year, as the company works to stabilize postpaid ARPA and average postpaid accounts.

Total wireless service revenue of USD 5.0 billion was negatively impacted by lower Lifeline revenue as a result of estimated reimbursements to federal and state governments for subsidies claimed contrary to Sprint’s usage policy and the continued amortization of prepaid contract balances as a result of adopting the new revenue standard last year. Excluding these impacts, total wireless service revenue was relatively stable sequentially and year-over-year.

Net loss of USD 274 million, operating income of USD 237 million, and adjusted EBITDA* of USD 2.6 billion were also negatively impacted by the aforementioned estimated reimbursements to federal and state governments.

The company continued its focus on cost optimization during the quarter by driving year-over-year gross reductions in cost of services and selling, general and administrative expenses, with most of the reductions coming from network optimization and more efficient sales and marketing spend. These reductions have been offset by incremental costs associated with network coverage and capacity improvements, along with other customer experience initiatives.

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Posted By : TelecomGuru on Wed, 06 Nov 2019
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