Sprint Corp's (NYSE: S) quarterly revenue fell 8.7% as revenue from its wireless business declined, and new and existing customers opted for its installment plans.
The company reported a loss of $20 million U.S., or one cent per share, for the first quarter ended June 30 compared with a profit of $23 million U.S., or one cent per share, a year earlier.
Sprint, which is 80% owned by Japan's SoftBank Corp., said net operating revenue fell to $8.03 billion from $8.79 billion U.S. Its shares opened Tuesday on Wall Street up 18 cents, or 5.4%, to $3.52 U.S., within a 52-week trading range of $3.10 U.S. to $7.48 U.S.
