Business & Tech
Sprint Loses $48M In Second Quarter
The results were not as bad as Wall Street had expected.
OVERLAND PARK, KS — Sprint, one of the country's largest wireless carriers, reported Wednesday a loss of $48 million in its fiscal second quarter.
On a per-share basis, the Overland Park, Kansas-based company said it had a loss of 1 cent.
The results were not as bad as Wall Street had expected. The average estimate of 17 analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
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The wireless carrier posted revenue of $7.93 billion in the period, missing Street forecasts. Eighteen analysts surveyed by Zacks expected $8.07 billion.
Sprint shares have fallen 17 percent since the beginning of the year. The stock has climbed 1 percent in the last 12 months.
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