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.


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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