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Sprint Raises Outlook After Fewer Users Leave Than Projected
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Sprint Corp. shares rose after the carrier boosted its full-year forecast and reported first-quarter sales that topped analysts’ estimates even in the face of intensifying wireless competition.
Revenue increased to $8.88 billion as Sprint held onto more subscribers than expected, the Overland Park, Kansas-based company said today in a statement. That topped the $8.77 billion that analysts had estimated on average. Sprint lost 231,000 branded monthly subscribers in the quarter and 333,000 total. Analysts had projected 408,000 total monthly customer losses.