Sprint today announced earnings from third-quarter Fiscal Year 2015, and in them they had some good news to report, mainly that they've added half a million new postpaid subscribers and that they're on track to meet, or exceed, their targets for reducing costs. Some of this can be a little confusing, so we've focused on the more interesting and most relevant parts of Sprints announcement this morning, but the big takeaway here is that the yellow carrier seems to be back on the right track, if these figures are anything to go by.
In addition to the 501,000 postpaid additions (itself a sizeable improvement of 471,000 compared to the same period last year) Sprint also added 366,000 handset customers which is a massive improvement from a loss of 205,000 handset customers during the same period last year. Cutting costs has been a big goal for Sprint over the past year or so and in their press release today they noted that they will "exceed its cost reduction target for fiscal 2015 and has realized a nearly $800 million reduction in cost of service and selling, general, and administrative expenses year-to-date". $500 Million of this was saved during the third quarter of the fiscal year of 2015. Of course, there's a reason Sprint is in the position that they're in, and on their report $8.1 Billion in revenue, the company posted an operating loss of $197 Million. Compared to the massive $2.5 Billion of losses for the same period the previous year, it's safe to say Sprint is doing something right.
These are some positive figures from Sprint, and as of writing the company's stock has risen 13.89% in pre-market trading, according to Yahoo! Finance, and has been seen to rise as much as 18% according to figures elswhere. It will be interesting to hear from the rest of the Big Four and compare these earnings to each other's, but it does appear as though Sprint has ended 2015 on a good note, especially when comparing their figures to the same period the previous year, these figures are encouraging.