Sprint Nextel Earnings: Here’s Why the Stock is Rising Now
Sprint Nextel Corp. (NYSE:S) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.66%.
Sprint Nextel Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.53 in the quarter versus EPS of $-0.46 in the year-earlier quarter.
Revenue: Rose 0.38% to $8.88 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Sprint Nextel Corp. reported adjusted EPS loss of $0.53 per share. By that measure, the company missed the mean analyst estimate of $-0.30. It beat the average revenue estimate of $8.69 billion.
Quoting Management: “This is a historic time for Sprint. We recently shut down the Nextel platform and completed the Clearwire, SoftBank and U.S. Cellular transactions. In the second quarter, we achieved record levels in Sprint platform postpaid subscribers, service revenue and postpaid ARPU, and increased our 4G LTE footprint,” said Dan Hesse, Sprint CEO. “Sprint pioneered unlimited voice, text and data in 2008, and we recently introduced the first lifetime guarantee, solidifying our commitment to the simplicity and peace of mind that unlimited brings.”
Key Stats (on next page)…
Revenue increased 0.96% from $8.79 billion in the previous quarter. EPS decreased to $-0.53 in the quarter versus EPS of $-0.21 in the previous quarter.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)