Sprint is sliding after posting a smaller than expected loss
The mobile carrier posted a loss of $0.40 per share, less than analysts expectations of a $0.80 per share loss.
Revenue also beat analyst expectations at $8.25 billion against projections of $7.96 billion, according to a release form the firm, this was the first time revenue beat the same quarter in the previous year over the past two years.
The company also raised guidance, edging up projected full year operating income to $1.2-$1.7 billion from $1-$1.5 billion.
"We took another step forward in our plan toward sustainable profitability and cash generation with this quarter's results," said CEO Marcelo Claure in a press release accompany earnings.
After jumping over 5.65% in trading on Monday after the news of AT&T's merger with Time Warner lifted nearly all telecom stocks, Sprint's stock was down slightly following the news. As of 8:04 a.m. ET, the stock was down -roughly 2% at $6.82 per share.
