Sprint shares up after cost cutting Quarter

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Sprint's quarterly profit amounted to $206 million, up from a $302 million loss in the same period previous year.

Shares in the company, which have risen 30% over the past 12 months, climbed 2.8% to $8.20 in premarket trading.

"This represents the progress of a turnaround journey that has delivered improvements in postpaid phone and prepaid customer growth, a return to top-line growth, and a significantly transformed cost structure", Sprint CEO Claure said.

Here's a closer look at some other key metrics from Sprint's quarterly earnings report.

Postpaid net additions of 88,000 marks the eighths consecutive quarter of net additions. In the prior quarter Sprint added 43,000 net postpaid subscribers. "Now things are back to normal...." In the same period a year ago, it reported a net loss of $302 million, or 8 cents per share. Quarterly revenues totaled $8.16 billion, compared with revenues of $8.01 billion in the first quarter of 2016.

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A deal is coming, he promised, adding he was "highly encouraged" by early talks with potential partners. He also maintained Sprint can be sustainable as a standalone company, but he made it clear the carrier is eagerly pursuing a tie-up with a variety of players. Claure said he was "a bit surprised" to see that announcement and that Charter talks were part of a "bigger play".

This underscores the challenges Sprint faces: Not only does it need to shore up its finances, it needs to fight a perception among consumers that it's the industry stooge. Sprint now expects operating income of $2.1 billion to $2.5 billion, up from $2 billion to $2.5 billion.

Shareholders were impressed. Sprint's stock jumped 10% at midday on Tuesday, putting it in positive territory for the year with a total gain of 5% in 2017.

It marked the company's highest group of quarterly earnings for almost ten years, Sprint highlighted. "Unfortunately, it is precisely these distortions that make M&A so hard". The spokesman also turned down requests for comments on whether the negotiations would continue or whether a different price would perhaps regain Charter's interest in a possible buy out.

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