Sprint Stock Shoots Higher on Strong Q2 Results
Sprint stock got a major boost on Wednesday following the release of its earnings report for its fiscal second quarter of 2018.
Source: Mike Mozart via Flickr
Sprint (NYSE: S ) starts of its earnings report for its fiscal second quarter of the year with earnings per share of 5 cents. This is better than the company's losses per share of 1 cents from the same time last year. It was also good news for Sprint stock by coming in above Wall Street's losses per share estimate of 1 cents for the quarter.
During its fiscal second quarter of 2018, Sprint reported net income of $207 million. This is an increase over the company's net loss of $48 million reported in its fiscal second quarter of 2017.
Operating income reported by Sprint for its fiscal second quarter of the year came in at $778 million. The wireless company's operating income from the same period of the year prior was $601 million.
Sprint also reported revenue of $8.43 billion in its earnings report for its fiscal second quarter of 2018. This is up from its revenue of $7.93 billion that was reported in its fiscal second quarter of the previous year. It is also a boon to Sprint stock by coming in above analysts' revenue estimate of $7.97 billion for the period.
Sprint also took time in its most earnings earnings report to update its outlook for fiscal 2018. The company says that it is now expecting adjusted EBITDA to a range of $12.4 billion to $12.7 billion. It was previously expecting adjusted EBITDA between $12.0 billion and $12.5 billion for the year.
S stock was up 9% as of noon Wednesday, but is down 3% year-to-date.
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As of this writing, William White did not hold a position in any of the aforementioned securities.
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