Sprint earnings for 2Q16 continue the claw to breakeven
Sprint turned in a Form 8-K to the Securities & Exchanges Commission today, which means that we’re not far off from final numbers for its second fiscal quarter. That said, we do have pretty much all the numbers we need to talk about the performance of its business.
It was able to notch a 3 percent annual gain in net revenue to $8.25 billion, positive operating income of $622 million and an additional 344,000 postpaid subscribers to its base, its slowest quarter in a year. The gain is down from +378,000 one year ago, though, and its prepaid subscriber slide continues with a loss of 427,000. Still, total platform connections look to be up by 744,000 and that should take Sprint above the 60 million subscriber mark. Postpaid churn went down by .02 percent to 1.52 percent.
While Sprint is still losing money, its net loss number shrunk to $142 million from last year’s $585 million. Simply put, it’s progress.
A Form 8-K does not represent finalized earnings figures for the company.