The wireless communications company posted diluted earnings per share (EPS) of $0.05, compared with a net loss a year ago of $0.08 per share. Revenue totalled to $8.16 billion, compared to $8.01 billion in the previous year and analysts' expectations of $8.11 billion. Analysts had expected a loss of a penny a share on $8.11 billion in revenue.
The profit is largely a result of thousands of job cuts previous year, which trimmed $US4 billion from the Kansas-based company's operating costs.
The financing arrangement and other details are emerging as Son plans to merge Charter with SoftBank's struggling United States wireless company Sprint Corp. Sprint added 61,000 total customers for the quarter. One week after that move, Virgin Mobile, Sprint's prepaid offspring, doubled down with a year of service for $1 and a decision to offer only Apple iPhones. The bank, which earns most of its income in Asia, said it will carry out its latest share repurchase in the second half of the year, bringing the total amount since last year to $5.5 billion.
Postpaid subscriber churn rose year over year from 1.56% to 1.65%, but fell from 1.75% in the prior quarter.
Hillary Clinton's new book will be called 'What Happened'
I wonder if she'll explain how the Russians and Comey tricked her into ignoring Wisconsin, Michigan and Pennsylvania. The ally said the book of personal essays will be a "bombshell".
Most of the rumors around a Sprint merger so far have centered around Charter or T-Mobile US Inc.
The company claims a total of 53.7 million connections, up from 53.4 million at the same time past year.
Sprint CEO Marcelo Claure said that the profit was "an important milestone" for the carrier on its way to transform its cost structure.
The company increased its fiscal year 2017 adjusted EBITDA guidance from a prior range of $10.7 billion to $11.2 billion to a new range of $10.8 billion to $11.2 billion. SoftBank has achieved sizable girth through highly leveraged financing of acquisitions like Alibaba Group Holding Ltd., for which it has achieved outsized returns, and Sprint, on which it has lost billions.
Net operating revenues rose 1.8 percent to Dollars 8.157 billion, as higher equipment sales helped offset lower service revenues, and adjusted EBITDA increased 16.1 percent to USD 2.853 billion. Claure stressed, however, that Sprint would not be announcing any deal on the earnings call.