Jim Cramer -- Sprint Reported an 'Amazing Quarter'
Shares of Sprint (S) - Get Report are 10% higher Monday following earnings that made investor cheer.
It was "quite a good number, very unexpected," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment. The company reported in-line earnings per share results but added 180,000 new postpaid customers in the quarter.
Sprint has been in a tough battle, mainly with T-Mobile (TMUS) - Get Report , because competitors AT&T (T) - Get Report and Verizon (VZ) - Get Report are larger and have more capital, Cramer explained. However, Sprint appears to have taken market share from everyone this quarter.
As a result, these other phone companies will now have to explain exactly how that happened. Sprint has been constrained by its balance sheet, Cramer noted, and lots of investors had given up on it.
However, "this was an amazing quarter," Cramer concluded.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.