Sprint Tops Subscriber Estimates, Awaits T-Mobile Deal Decision
(Bloomberg) -- Sprint Corp. exceeded wireless subscriber growth estimates in its fiscal fourth quarter as promotions and freebies helped lure new customers -- good news as investors wait to learn if U.S. regulators will approve the company’s $26.5 billion takeover by T-Mobile US Inc.
- The No. 4 national wireless carrier added 169,000 regular monthly customers. which included a mix of watches, tablets and hotspots. But the company lost 189,000 monthly phone subscribers, the most lucrative customer group. Analysts expected a loss of 71,000 total customers, and a drop of 148,000 phone customers, based on an average of seven estimates.
Key Insights
Market Reaction
- Sprint shares gained as much as 1.2 percent in extended trading. The stock is up more than 8 percent since the deal was announced just over a year ago.
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- For the Sprint release, click here.
- For Sprint’s debt maturities, click here.
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