Sprint reports first-quarter loss but tops expectations

MarketsAssociated Press

Sprint Corp. (S) on Tuesday reported a fiscal first-quarter loss of $20 million, after reporting a profit in the same period a year earlier.

The Overland Park, Kansas-based company said it had a loss of 1 cent per share.

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The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The wireless carrier posted revenue of $8.03 billion in the period, missing Street forecasts. Eight analysts surveyed by Zacks expected $8.32 billion.

The company's shares closed at $3.34. A year ago, they were trading at $7.45.

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

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Keywords: Sprint, Earnings Report