Sprint Corp. said its fourth-quarter loss narrowed, with higher
subscriber rolls boosting the cell-phone carrier's revenue, though
expenses continued to weigh on results.
Sprint reported a loss of $1.04 billion, or 26 cents a share,
compared with a year-earlier loss of $1.32 billion. Revenue rose
1.5% to $9.14 billion. Operating expenses were nearly flat at $9.72
billion.
Analysts polled by Thomson Reuters had forecast a loss of 33
cents a share on revenue of $8.97 billion.
Sprint reportedly has been contemplating a bid for fellow
wireless carrier T-Mobile US Inc. (TMUS), looking to make itself a
much stronger rival against industry leaders Verizon Communications
Inc. (VZ) and AT&T Inc. (T). However, the company is expected
to face stiff opposition for any deal from U.S. antitrust
officials, who blocked AT&T's $39-billion attempted takeover of
T-Mobile in 2011.
Sprint's acquisition interest comes after Japan's SoftBank Corp.
(9984.TO) last year acquired a majority stake in the company,
providing Sprint with much-needed capital to expand its high-speed
wireless infrastructure.
For the latest quarter, the company lost 69,000 net contract
subscribers--the industry's most lucrative phone
customers--compared with losses of 535,000 in the third quarter and
a loss of 243,000 a year earlier. Total wireless net additions rose
477,000, compared with losses in the prior quarter and a year ago,
thanks to growth in prepaid as well as wholesale and affiliate net
additions.
The total contract customer turnover rate was 2.15%, compared
with 2.09% in the previous quarter and 2.18% a year ago.
Write to Ben Fox Rubin at ben.rubin@wsj.com
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