Sprint Lifts Lower End of FY Guidance

Sprint shares were higher over 3% in recent pre-market trade after the wireless provider reported fiscal Q1 earnings of $0.05 per share, compared to a loss of $0.08 in the same period a year ago. Analysts polled by CapIQ expected a loss of $0.05 per share. Total revenues in the quarter ended June 30 were $8.16 billion, down from $8.54 billion in the same period a year ago and exceeded the Street projection of $8.14 billion.

The company meanwhile revised its FY adjusted EBITDA guidance to a range of $10.8 billion to $11.2 billion from a prior range of $10.7 billion to $11.2 billion. Full year operating income guidance was revised to a range of $2.1 billion to $2.5 billion from a prior expectation of $2 billion to $2.5 billion.

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