3 Telecom Stocks Seeing Action: Sprint’s Soft Quarter, AT&T Makes Home Phone Adjustments, and Verizon May Not Disrupt Canadian Rates
Sprint Corporation (NYSE:S): Sprint shares are up nearly 3 percent, as revenue of $8.87 beat expectations by $180 million. The quarter saw the best-ever Sprint platform postpaid ARPU of $64.20, and the 11th consecutive quarter of year-over-year growth. However, the network suffered a $1.6 billion loss, and lost 2 million subscribers, after the company shut down the Nextel network. The company is now looking to the second half of the year under its new owner, Softbank, to help boost its performance.
AT&T (NYSE:T): AT&T made some updates to its home phone service with LTE Internet, which will be available in select markets on Friday. A two-year subscription includes a free router that can connect up to 10 WiFi devices, but it’ll cost at least $80 a month for unlimited local calls with 10 GB of data. Add another $10, and $90 each month yields 20 GB of data, while shelling out $120 will grant 30 GB.
Verizon Wireless (NYSE:VZ): Verizon’s entry into the Canadian mobile market may not result in lowered call rates, one expert suggested. ”Verizon is a premium carrier in the United States, they’re not a low-cost carrier. They’re not like Target or Walmart, you know, in the retail space, they’re more like Nordstrom,” said Greg O’Brien, editor of Cartt.ca, an online magazine about the telecom industry. Therefore, users expecting the added competition probably won’t see lower bills, he said.