
Sprint (S) Stock Gains on Q1 Revenue Beat
NEW YORK (TheStreet) -- Shares of Sprint (S) - Get Report are climbing 3.46% to $4.78 in pre-market trading Monday after the telecommunications company reported higher-than-expected revenue for the 2016 fiscal first quarter.
Before today's opening bell, the Overland Park, KS-based company posted revenue of $8.01 billion, above analysts' estimates of $7.98 billion.
Sprint said it had a loss of 8 cents per share, in line with analysts' projections.
The wireless carrier added 173,000 postpaid net subscribers during the period, which is its most profitable type of customer, the Wall Street Journal noted. This marked its fourth straight quarter in the positive.
Total net additions were 377,000 for the quarter.
"We had another quarter of solid progress in our turnaround with the highest first quarter postpaid phone net additions in nine years, the lowest postpaid phone churn in company history, and finally being postpaid net port positive against all three national carriers after five years" CEO Marcelo Claure said in a statement.










