Sprintundefined said it earned 36 cents a share from continuing operations in the first quarter including a 1-cent-a-share gain from investments. Analysts had expected the company would earn 37 cents a share, according to Thomson Financial/First Call.

The company's revenue slipped 1% to $4.36 billion from $4.4 billion a year ago.

Meanwhile,

Sprint PCS

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(PCS)

, the company's mobile phone unit, posted a first-quarter loss of 40 cents a share. Analysts had expected it would record a loss of 37 cents a share.

Sprint PCS' revenue jumped 68% to $2.05 billion from $1.22 billion a year earlier.