Sprint (S) Stock Spikes on Q4 Revenue Beat, Upbeat Guidance

Sprint (S) shares are popping on Tuesday morning after the U.S. wireless carrier reported its fiscal 2015 fourth quarter results, posting better-than-expected sales while profit missed estimates.

Author:: U-Jin Lee
Publish date:: May 3, 2016 8:50 AM EDT

NEW YORK (TheStreet) -- Sprint (S) - Get Report shares are popping 2.87% to $3.59 in Tuesday's pre-market trading session after the U.S. wireless carrier reported its fiscal 2015 fourth quarter results earlier today, showing better-than-expected sales while profit missed estimates.

The company posted a loss of 14 cents a share while Wall Street was looking for a loss of 12 cents a share.

Revenue of $8.07 billion came in ahead of forecasts of $8.06 billion.

A year ago, the company posted a loss of 6 cents a share on revenue of $8.28 billion.

In the recent quarter, the company added 447,000 subscribers as it worked aggressively to offer deep discounts to win customers from other competitors.

"We generated positive postpaid phone net additions for the first time in three years, capped off by surpassing both Verizon Communications (VZ) and AT&T (T) for the first time on record this quarter," Sprint CEO Marcelo Claure.

Along with robust sales, shares were boosted by Sprint's positive expectations for the year ending March 2017, as it anticipates operating income to be between $1 billion to $1.5 billion, significantly higher than $310 million it earned for the year ended March 2016.