Tuesday, August 4, 2015

Wireless carrier Sprint's revenue falls 8.7 percent

Sprint Corp's (S.N) quarterly revenue fell 8.7 percent 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, or 1 cent per share, for the first quarter ended June 30 compared with a profit of $23 million, or 1 cent per share, a year earlier. Sprint, which is 80 percent owned by Japan's SoftBank Corp (9984.T), said net operating revenue fell to $8.03 billion from $8.79 billion. (Reporting by Lehar Maan in Bengaluru; Editing by Kirti Pandey)

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