Why Sprint (S) Stock Is Spiking Today

NEW YORK (TheStreet) -- Sprint (S) stock is gaining Tuesday after the company reported a narrower-than-expected net loss and as revenue gained in its first quarter.

By late morning, shares had gained 11.2% to $8.26.

The mobile carrier, the third-largest in the U.S., reported a net loss of 4 cents a share over the three months to March. Analysts surveyed by Thomson Reuters had forecast a loss of 9 cents a share. In the year-ago quarter, Sprint lost 21 cents a share.

Revenue of $8.88 billion exceeded expectations of $8.79 billion. 

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