Sprint beats earnings estimates boosted by tax gain
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.