Sprint on Wednesday published its consolidated financial report for the second quarter of the calendar year, i.e. the first quarter of its 2018 fiscal year, posting yet another quarterly profit and an unexpected wireless growth helmed by 87,000 postpaid phone net additions. While its wholesale and affiliate business was down, the company still recorded 57,000 net wireless additions over the three-month period ending June 30, hence ensuring the stability of its stock which opened 0.64-percent up once NYSE trading started at 10:30 AM EDT.
Sprint's net income amounted to $176 million, having been generated on a revenue of $8.13 billion. While its turnover remained largely flat, the bottom line decline compared to the same period last year when the firm recorded $206 million in profit. The company's overall outlook remains positive, especially given the promising market response to its new unlimited plans meant to provide consumers with a plethora of choices, as per the same report. Over the last quarter, Sprint continued performing tri-band network upgrades to the point that two-thirds of its macro sites throughout the United States now support its 2.5GHz spectrum holdings. The firm also intensified its efforts to deploy small cell stations and presently operates over 15,000 of them, whereas more than 260,000 Magic Boxes have now been installed on a national level.
The Overland Park, Kansas-based wireless carrier confirmed it's now also deploying Massive MIMO radios that it labeled as one of the crucial components of the 5G equation which it's still hoping to resolve by combining with T-Mobile. The company's officials were relatively quiet on the merger front even when directly asked about Sprint's consolidation attempt during today's earnings call, having only reiterated that the duo is still hoping to have the deal approved by the end of the first half of 2019. T-Mobile's executives are hence likely to be equally evasive when confronted with the same questions after the telecom giant publishes its own financials later today.