Sprint’s Early Numbers Point to Progress but Leave Questions Unanswered
Sprint announced preliminary fiscal second-quarter results as it meets with debt investors to finalize its planned issuance of notes backed by the value of its spectrum holdings. While the preliminary figures paint a decent picture of Sprint’s turnaround progress, the release excluded several details needed to fully evaluate the quarter given the accounting complexity behind phone installment and leasing transactions. We don’t plan to change our fair value estimate at this time; the firm reports...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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