Sprint's loss narrows as company adds phone subscribers

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The net loss narrowed to USD 283 million or USD 0.07 per share, from a net loss the year earlier of 554 million or 0.14 per share, while the operating profit advanced to USD 470 million from 8 million.

"Sprint took a big step forward in the second year of our turnaround plan", said Sprint CEO Marcelo Claure.

The Overland Park, KS-based wireless carrier reported a Q4 net loss of ($0.07), which was $0.04 worse than the Wall Street consensus estimate of ($0.03).

For the full year, adjusted free cash flow returned to positive, $607M vs. a year-ago -$1.4B.

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Groupon added 500,000 net new customers in North America to bring the regional total of active customers to 31.6 million.

Sprint added 42,000 postpaid phone subscribers, or those who pay a monthly bill, in the quarter.

Sprint Corp (NYSE:S) told investors it added 930,000 "postpaid" phone customers in 2016, which was double the amount it added the year before and was the highest number of additions for four years. Sprint said it added 1.9 million, including postpaid additions of 811,000, prepaid losses of 1.1 million, and wholesale and affiliate net additions of 2.1 million in fiscal 2016.

Sprint said it added 187,000, including postpaid losses of 118,000, prepaid net additions of 180,000, and wholesale and affiliate additions of 125,000 in the fourth quarter.

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Sprint did not participate in the auction but was not permitted to talk to companies that were.

Sprint said postpaid phone churn was 1.58 percent and postpaid churn was 1.75 percent in the fourth quarter. The company cut its cost of service and selling, general and administrative expenses by $2.1 billion in 2016. In last year's first quarter, the company posted $698.4 million in revenue.

For fiscal 2017, Sprint expects adjusted EBITDA to be between $10.7 billion and $11.2 billion and operating income to be between $2 billion and $2.5 billion.

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