Sprint beats estimates with narrower loss, sells 1.5 million iPhones in Q1
Sprint grew sales to $8.79 billion and loss was 21 cents per share, less than the analysts’ consensus for 34 cent loss. Overall net loss stood at $643 million, narrower than the $863 million Sprint lost in the first quarter of 2012.
Smartphones constituted 86% or the large majority of Sprint phone sales and the carrier sold 1.5 million iPhones.
“This is a transformative year for Sprint and we’ve gotten off to a good start,” Sprint CEO Dan Hesse said in a statement.
Sprint shares have more than tripled in value over the last year and the company has received takeover bids from both SoftBank and Dish.