Sprint beats Street 3Q forecasts

MarketsAssociated Press

Sprint Corp. on Friday reported fiscal third-quarter net income of $7.16 billion, after reporting a loss in the same period a year earlier.

The Overland Park, Kansas-based company said it had net income of $1.76 per share. Losses, adjusted for one-time gains and costs, came to 2 cents per share.

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The results topped Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The wireless carrier posted revenue of $8.24 billion in the period, also topping Street forecasts. Fifteen analysts surveyed by Zacks expected $8.18 billion.

Sprint shares have declined 13 percent since the beginning of the year. The stock has fallen 43 percent in the last 12 months.

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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

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