Sprint Corp (NYSE:S) stock had a strong showing after Election Day, which saw Donald Trump be elected president in one of the biggest political upsets in the country’s history.
Overall, Wall Street was panicking as U.S. markets were betting on Hillary Clinton to take the presidency, but the phone carrier’s surge could signal a positive step toward accepting telecommunications consolidation.
Antitrust regulators were opposed to mergers among telecommunications companies, but the move could help solidify moves that have fallen through in the past, such as Sprint’s 2014 bid for T-Mobile US (NASDAQ:TMUS), marking a union of the third fourth ranked wireless carriers.
The company has been climbing lately as it reported earnings at a loss of 4 cents per share for its fiscal second quarter on October 25. The figure came in well ahead of the 15 cents per share it lost a year prior, and it was narrower than the loss of 7 cents per share predicted by analysts.
Sprint was also able to add 344,000 subscribers every month over the course of the three-month period, beating rivals in postpaid phone net additions. The company also lost 427,000 of these subscribers over the quarter.
Despite the fact that Sprint may be looking to merge with T-Mobile, the come could not come into fruition due to the fact that the latter company’s CEO has stated that it would take quite an impressive bid for a takeover to transpire.
S shares gained 11.7%.
