Sprint Investors Reassured by Gains in Cash, Subscribers
- Cash and equivalents increase 12 percent to $2.2 billion
- Carrier's stock and bonds advance in New York trading
Sprint Levered, Liquid as Debt Rivals Puerto Rico
This article is for subscribers only.
Sprint Corp.’s path to recovery is a little clearer now, with a smaller-than-estimated quarterly loss and a higher cash balance giving a lift to investors and bondholders after a harrowing week.
Sprint, which had been hemorrhaging cash over the past year, was able to increase its cash and equivalents by almost 12 percent to $2.2 billion in the fiscal third quarter, which ended Dec. 31. That helped drive up shares and bonds Tuesday, gaining back ground after hitting multiyear lows on Jan. 20.