Charter, Sprint and HSBC — CORPORATE REPORT

Sprint posts first quarterly profit in three years

Meanwhile, SoftBank's efforts over the past few years to whip Sprint's finances into shape via deep cost cuts and investment in its wireless and sales networks are finally paying off. Sprint reported a $206 million net profit for the April-June quarter Tuesday, marking its first quarter in the black in three years.

Sprint added 88,000 net postpaid (contract) subscribers in the first quarter, compared to net additions totaling 173,000 in the prior year quarter.

Rumors continue to swirl about potential deals with everyone from wireless rival T-Mobile to cable provider Charter Communications. The company has been exploring deal options with T-Mobile US Inc but faces the hurdle of reaching an agreement on price as well as getting the deal approved by regulators.

Subscribers: Sprint enjoyed its eighth consecutive quarter of postpaid phone net additions, and its total net additions of 61,000 included postpaid net losses of 39,000, prepaid net additions of 35,000, and wholesale and affiliate net adds of 65,000.

Sprint CEO Marcelo Claure said that the profit was "an important milestone" for the carrier on its way to transform its cost structure. The company lost 8 cents per share in the comparable quarter of the prior year, when it did $8.01 billion worth of business.

Former Sheriff Joe Arpaio found guilty of criminal contempt in Arizona
A Justice Department spokeswoman said Arpaio faces up to six months in prison at his sentencing, which is scheduled for October 5. Rather he blamed his former attorney for not explaining him the court orders properly, the Chicago Tribune reported.

Potential M&A: Claure was understandably coy about which company-or companies-Sprint might be most likely to partner with, saying multiple times that the carrier has "plenty of options". The wireless communications company posted diluted earnings per share (EPS) of $0.05, compared with a net loss a year ago of $0.08 per share.

That puzzled Claure, who said repeatedly that Sprint hadn't been offered to Charter.

Read between the lines of Sprint Corp.'s quarterly results statement, and it says, "Please buy us". "Hopefully, after a two-month hiatus during which Sprint has been in discussions with cable, the two sides can settle differences and secure the deal that would clearly bring the most value to both companies", analyst Jonathan Chaplin of New Street Research noted on Tuesday.

Shares rose 10.5 percent to $8.82 in morning trading. Sprint owes billions in debt that will come due over the next several years, which will severely limit its ability to leverage its valuable pile of 2.5 GHz spectrum.

He said he was surprised Charter said it was not interested in acquiring Sprint given Sprint was never offered for Charter to buy.

Related:

Comments

Latest news

Chancellor, Seahawks agree to $36M contract extension
The guaranteed money ranks seventh for the position, and $2.75 million less than what was guaranteed to teammate Earl Thomas . I can't really put a time frame on how long I want to play. "As long as the wheels let me", Chancellor said.

Russian Federation tells U.S. to cut number of diplomats in retaliation
Trump has denied any collusion between his associates and Moscow and termed the Russian investigation "a witch hunt". The law will be sent for signature to the President of the United States Donald Trump, who has the right to veto it.

Lavrov says Moscow had to react to U.S. sanctions
Sanctions relief is important to Russia's broader objective of superpower status, shown by its bullish Syria policy. The administration officials and advisers demanded anonymity to discuss the private sanctions deliberations.

Putin Derides Sanctions and Trump Investigations as 'Boorishness'
The Russian President declared his hopes that Russian-US relations would be fixed, and bilateral cooperation would be stepped up. Putin on Thursday: "I do not quite agree with you that the issue is about imposing sanctions or adhering to US laws".

Mauricio Pochettino Weighs In Amid Eric Dier's Manchester United Speculation
That is the game we want to win. "Spurs open their league campaign at Newcastle United on August 13". It is true when you compete you want to win.

Dr. Luke Wants To Force Lady Gaga Deposition In Kesha Lawsuit
He has now "issued a subpoena on Lady Gaga ", meaning she could have to deliver evidence in a three-hour sit-down interview. Gaga , a sexual assault survivor, has been an outspoken supporter of Kesha throughout the years-long ordeal, but Dr.

U.S. expresses 'strong disappointment and protest' over Russian Federation retaliation
Tillerson added that he hoped potential future U.S. -Russia cooperation would make the sanctions unnecessary at some point. The bill targets Russia's aggression in Ukraine and Syria, citing corruption, human rights abuses and weapons sales.

BJP may fish in troubled waters in Gujarat, announce RS candidates today
Meanwhile, the Congress has fielded Ahmed Patel for the Gujarat Rajya Sabha seat. The BJP has had a rough time in the Rajya Sabha since it has not had a majority.

Trump sacks Reince Priebus as White House chief of staff
In a statement, Priebus said, "It has been one of the greatest honors of my life to serve this President and our country". JUDY WOODRUFF: Well, it is - as you and I were just saying, it's one more tumultuous day in what's been nonstop tumult.

Donald Trump replaces chief of staff Reince Priebus with retired General Kelly
Bush's administration as the special assistant for prevention, preparedness, and response on the Homeland Security Council. Brooks also said he would have fired Scaramucci over the magazine interview.

Mauricio Pochettino hits back at 'disrespectful' Conte regarding Tottenham comments
Tottenham modestly spends the summer, not signing anyone and losing only Walker from the leaders of last season. I am so respectful of other players, other clubs, other managers, the owners of different clubs.

Gunmen Attack Kenyan Deputy President's Home, Standard Reports
A police officer guarding the gate was shot and injured and his gun snatched before fighting began. By the time of publishing this article, neither Ruto nor State House had commented on the attack.

Trump Replaces Chief Of Staff Priebus With Retired General Kelly
Speaker of the House Paul Ryan, D-Wisc., is a friend of Priebus' and released a statement following Trump's announcement. Trump had only a small team of supporters when, in 2011, he first began toying with the idea of a presidential run.

Iran accuses U.S. navy of firing warning shots at its vessels
Naval forces at a high rate of speed". 'We condemn the hostile and unacceptable action, ' he said of the sanctions. Russian Federation and North Korea were also the subject of further sanctions.

Putin Turns on Trump as Congress Approves New Sanctions on Russian Federation
Russian President Vladimir Putin proposed a bilateral solution to this problem to President Trump during the recent G-20 meeting. Trump's concerns include a provision letting Congress stop any effort to ease existing sanctions on Russian Federation .

Other news