Sprint Reports Mixed Fiscal 2Q Results, With Weak Revenue but Improved EBITDA Margin
Sprint reported mixed fiscal second-quarter results, with weaker revenue but better EBITDA margin. We expect to maintain our fair value estimate and no-moat rating. We believe the shares are overvalued on a stand-alone basis. The firm reported revenue down 3.9% from the year-ago period versus our full-year projection of a small gain. While the company had its highest share of postpaid phone gross adds in its history during the quarter, which management estimated at 22%, its postpaid phone churn ...Sprint is a holding company. Through its subsidiaries, the company is a communications company providing wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers. The company has two segments: Wireless, which provides wireless services on a postpaid and prepaid payment basis to retail subscribers and also on a wholesale basis, including the sale of wireless services that utilize the company's network but are sold under the wholesaler's brand; and Wireline, which provides a suite of wireline communication services to other communications companies and targeted business customers, as well as voice, data and internet protocol communication services.
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