Sprint Corporation (NYSE: S) saw its shares dwindle on results for the fiscal year 2019 third quarter, including stability in postpaid wireless service revenue and continued growth in postpaid net additions. The company also reported a net loss of $120 million, operating income of $66 million, and adjusted EBITDA of $2.5 billion.
The company out of Overland Park, Kansas reported Monday said postpaid wireless service revenue of $4.2 billion remained stable sequentially and year-over-year as Sprint continued to focus on promoting its feature-rich Unlimited Plus and Unlimited Premium rate plans, selling additional data devices, and being more selective in its acquisition of postpaid phone customers.
Postpaid net additions of 494,000 and average postpaid accounts of 11.3 million improved sequentially and year-over-year, while postpaid ARPA of $124.80 remained stable.
The company also pointed to its continued execution of Next-Gen Network plan, which it boasted, resulted in the second fastest network and most improved operator based on national average download speeds.
True Mobile 5G coverage expanded to 20 million people
"I continue to be impressed by the commitment of Sprint employees to deliver results during this period of uncertainty," said Sprint CEO Michel Combes. "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."
Shares gave back 10 cents, or 2.1%, to $4.73
