Investing.com - Sprint reported a smaller than expected first quarter loss ahead of Tuesday’s opening bell, sending its shares higher in pre-market trade.
Sprint said losses per share came in at $0.04 in the three months ended March 31, compared to expectations for a loss of $0.08 per share. The mobile phone carrier’s first quarter revenue totaled $8.88 billion, beating expectations for revenue of $8.77 billion.
At the end of the quarter, the Sprint platform served nearly 54 million subscribers. During the quarter, Sprint platform postpaid gross additions grew by over 16% compared to the year-ago quarter.
Following the release of the report, Sprint (NYSE:S) shares rose 2.3% in pre-market trade.
Meanwhile, the outlook for U.S. equity markets was higher. The Dow indicated a gain of 0.4% at the open, S&P 500 futures pointed to an increase of 0.45%, while Nasdaq 100 added 0.55%.