Updated from 8:15 a.m. ESTStabilization and moderate growth were the key messages of an investor meeting in which Sprint PCS ( PCS) raised its estimate for 2002 EBITDA by $100 million to $2.8 billion. The Sprint wireless operation also raised its estimate of earnings before interest, taxes, depreciation and amortization to $3.3 billion to $3.4 billion next year, pending plans to trim what it spends per subscriber and keep its average revenue per user stable at about $60. Revenue is expected to top $12 billion this year and then rise at a mid-to-high single-digit percentage rate in 2003. Sprint predicted it would reach free cash flow break-even by the end of next year. Churn, or the rate at which customers leave, is also expected to be sequentially down to 3.5% in the fourth quarter from 3.8%, with expectations for it to trend even lower in 2003. Investors generally liked what they heard at the meeting, sending shares rocketing up 46 cents, or 9.58% to $5.26 in early afternoon trading. In yet another surprise, Sprint PCS chief executive Len Lauer said customers were beginning to warm to the company's high-speed wireless data plans, dubbed PCS Vision. "Vision take rates are very encouraging in the third quarter," said Lauer, adding that its 400,000 customers typically spent about 30% more than non-data customers. Sprint has been one of the most aggressive price discounters for next-generation data services. In the fall, the company offered promotional discounts on plans, offering unlimited data services on handsets for an additional $10, the cheapest such deal in the industry. Sprint was once the fastest-growing wireless company in the U.S., but has been fighting back a torrent of criticism on Wall Street over the past several months, after getting whacked by deadbeat customers. Sprint has since turned off nonpaying subscribers and reinstituted a stiff $125 deposit charge for bad credit risks. The sudden about-face led it to report one of the industry's first-ever quarterly net losses in subscribers in the third period.