Sprint (NYSE:S) earnings for the wireless company’s fiscal third quarter of 2020 have S stock falling on Monday. That’s despite it report diluted losses per share of -3 cents, which is better than Wall Street’s estimate of -5 cents per share. The problem is revenue of $8.08 billion. This is worse than analysts’ estimates of $8.22 billion.
Now for a closer look at the most recent Sprint earnings report.
- Diluted per-share losses for the quarter are the same as they were in fiscal Q3 2019.
- Revenue is sitting 6.05% lower than $8.60 billion during the same time last year.
- Operating income of $66 million is an 86.22% drop YoY from $479 million.
- The Sprint earnings report also includes a net loss of -$121 million.
- That’s a 16.55% improvement over its net loss of -$145 million from the same period of the year prior.
Michel Combes, Chief Executive Officer of Sprint, has this to say about the S stock earnings report.
“I continue to be impressed by the commitment of Sprint employees to deliver results during this period of uncertainty. As we await a decision in the state attorneys general lawsuit, I continue to believe the merger with T-Mobile is the best way to deliver the benefits of competition to American consumers.”
Sprint doesn’t mention an outlook in its most recent earnings report. Even so, we know what Wall Street is expecting. That includes diluted losses per share of -12 cents on revenue of $32.07 billion for the fiscal full year of 2020.
S stock was down 3.52% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.