Why Sprint (S) Is Jumping Today

NEW YORK (TheStreet) -- Sprint (S) was jumping 7.2% to $8.24 Tuesday following a surprising increase in subscribers and a smaller-than-expected loss in the fourth quarter.

The Kansas-based carrier announced it added 58,000 net subscribers in the fourth quarter. Analysts expected Sprint to lose subscribers in the quarter due to recent subscriber gains by AT&T (T) and Verizon (VZ), as well as T-Mobile's (TMUS) aggressive Un-carrier plans.

Sprint reported a loss of $1.04 billion, or 26 cents a share for the quarter. Analysts surveyed by Thomson Reuters expected a loss of 33 cents a share.

In the previous quarter, Sprint lost 368,000 subscribers. Sprint has lost subscribers over the past several quarters as it shut down the Nextel network, and overhauled the existing Sprint network. Sprint ended the year with 53.9 million subscribers, its highest level ever.

The carrier said it sold a record 5.6 million smartphones in the quarter.

For 2014, Sprint expects EBITDA between $6.5 billion and $6.7 billion, and capital spending of $8 billion.

Must read: Feb. 11 Premarket Briefing: 10 Things You Should Know

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