Sprint Loss Is Smaller Than Projected as IPhone Boosts Sales
This article is for subscribers only.
Sprint Nextel Corp., the third-largest U.S. wireless carrier, posted a smaller first-quarter loss than analysts predicted as rising monthly bills provided some relief to a company plagued by user defections.
The loss widened to 29 cents a share from 15 cents a year earlier, Overland Park, Kansas-based Sprint said today in a statement. Analysts projected a loss of 41 cents, the average of estimates compiled by Bloomberg. Sales rose 5.1 percent to $8.73 billion, compared with the $8.7 billion analysts predicted.