Sprint has revealed its Q3 2019 results and it had a net loss of $120 million. The report reflected findings from the wireless carrier’s performance from the period of October to December 2019. Sadly, the wireless carrier missed estimates by analysts and has reported losses.
According to the carrier, they had a total revenue of $8.08 billion, a number that’s shy from the expected $8.19 billion predicted by analysts. Their revenue decreased by 6 percent compared to the results from Q3 2018.
In addition to the revenue, the company also experienced a decrease in its sales in almost all segments shown year over year.
The report also showed 249,000 total wireless net additions throughout the quarter. This was evident in the growth of its postpaid subscribers. Its EBITDA is $2.535 billion with -$0.03 earnings per share compared to the $2.69 billion and -$0.04 estimates.
Sprint’s stock continues to be challenged over the past year. In 2018, it lost 10 percent. In 2019, it lost another 7 percent; making it among the worst performers in its industry.
Hopefully, its proposed merger with T-Mobile will help the company stay afloat. The carrier is expected to invest in its 5G coverage. Unless the merger is approved, Sprint could be having a problem with the infrastructure investments that will cost them.
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