Sprint Nextel Earnings: Here’s Why Investors are Mixed
Sprint Nextel Corp. (NYSE:S) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. Shares are down 0.52%.
Sprint Nextel Corp. Earnings Cheat Sheet
Results: Net loss decreased -0.23% to $1.3 billion (44 cents per diluted share) in the quarter versus a net loss of $1.3 billion in the year-earlier quarter.
Revenue: Rose 3.19% to $9 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sprint Nextel Corp. reported adjusted net loss of 44 cents per share. By that measure, the company beat the mean analyst estimate of $-0.46. It beat the average revenue estimate of $8.92 billion.
Quoting Management: “Sprint’s strong performance was fueled by record wireless service revenue on the Sprint platform due to year-over-year postpaid ARPU (Average Revenue Per User) growth and Sprint platform net additions,” said Sprint CEO Dan Hesse, in the statement.
Key Stats (on next page)…
Revenue increased 2.7% from $8.76 billion in the previous quarter. Net loss increased 69.49% from $767 million in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0 and has not changed. For the current year, the average estimate is a loss of $0, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials.)