Feb 2, 2018

Sprint beats earnings estimates boosted by tax gain

A Sprint store

A Sprint store last year. Photo: Joe Raedle/Getty Images

Sprint's earnings for the quarter ending in December 2017 beat analyst expectations — boosted by expected gains from the recent GOP tax law.

The bigger picture: Sprint still lagged behind Verizon, AT&T and T-Mobile in new subscribers.

The gritty details:

  • The company brought in earnings of $1.75 per share, up from a 12-cent loss per share in the same quarter of 2016. Analysts had expected the stock to lose 4 cents per share, according to Investors Business Daily.
  • Sprint said it would receive a roughly $7.1 billion "favorable impact from tax reform" — a significant boost in income for the quarter.
  • The company added 184,000 postpaid phone subscribers. That's still less than its main three competitors.
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