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Sprint returns to FY operating profit
2016-05-03 14:58:00| Telecompaper Headlines
(Telecompaper) US mobile operator Sprint reported a strong finish to its fiscal year to March, exceeding its annual guidance and reporting its first operating profit in nine years. The company reported an operating profit for the year of USD 310 million, better than its forecast of USD 100-300 million and reversing a loss of USD 1.9 billion in the previous tear. Adjusted EBITDA rose 36 percent to USD 8.1 billion, also beating its outlook, and the net loss narrowed to USD 2 billion from USD 3.3 billion a year ago. Adjusted free cash flow was a negative USD 1.4 billion compared to negative USD 3.3 billion in the prior year, and moved to a positive USD 603 million in the final quarter. Net operating revenues were still down 7 percent to USD 32.2 billion, which the company blamed on lower equipment revenues after shift in sourcing at the distribution subsidiary Brightstar to indirect channels.
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Category:Telecommunications