Sprint reports 4Q loss

Markets Associated Press

Sprint Corp. (S) on Wednesday reported a loss of $283 million in its fiscal fourth quarter.

Continue Reading Below

The Overland Park, Kansas-based company said it had a loss of 7 cents per share.

The results fell short of Wall Street expectations. The average estimate of 20 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The wireless carrier posted revenue of $8.54 billion in the period, exceeding Street forecasts. Nineteen analysts surveyed by Zacks expected $7.97 billion.

For the year, the company reported that its loss narrowed to $1.21 billion, or 30 cents per share. Revenue was reported as $33.35 billion.

Sprint shares have increased nearly 8 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

Continue Reading Below

_____

This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on S at https://www.zacks.com/ap/S

_____

Keywords: Sprint, Earnings Report