Sprint, S Sprint Corporation(NYSE:S) shares incre
Post# of 5325
Posted On: 11/03/2013 8:50:35 AM
Sprint, S
Sprint Corporation(NYSE:S) shares increased 3.74% to $6.93. The company on Oct.30 said that it earned a profit in the third quarter thanks to a one-time gain from its previous investment in Clearwire Corp., even as revenue inched lower. The company earned $383 million in the latest quarter. A year earlier, it booked a net loss of $767 million. Excluding items such as a gain of $1.4 billion related to Sprint's previous investment in Clearwire, Sprint would have posted a loss of $398 million, compared with an adjusted loss of $231 million for the 2012 third quarter. Revenue slid 1 percent to $8.68 billion from $8.76 billion last year. Analysts, on average, were expecting a net loss of $849.3 million, on revenue of $8.8 billion, according to FactSet.
Sprint Corporation(NYSE:S) shares increased 3.74% to $6.93. The company on Oct.30 said that it earned a profit in the third quarter thanks to a one-time gain from its previous investment in Clearwire Corp., even as revenue inched lower. The company earned $383 million in the latest quarter. A year earlier, it booked a net loss of $767 million. Excluding items such as a gain of $1.4 billion related to Sprint's previous investment in Clearwire, Sprint would have posted a loss of $398 million, compared with an adjusted loss of $231 million for the 2012 third quarter. Revenue slid 1 percent to $8.68 billion from $8.76 billion last year. Analysts, on average, were expecting a net loss of $849.3 million, on revenue of $8.8 billion, according to FactSet.
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