Sprint Corporation (S) - NYSE
  • Yesterday, 3:00 PM
    | Yesterday, 3:00 PM | 2 Comments
  • Yesterday, 12:49 PM
    | Yesterday, 12:49 PM | 32 Comments
  • Yesterday, 11:37 AM
    • Sprint (NYSE:S) has moved up 22.9% on huge volume to an easy new high in the wake of its fiscal Q1 earnings report and increasing signs it's reversed course on losing subscribers.
    • Nearly 50M shares have traded hands so far this morning, vs. a recent daily average of about 18M.
    • Growth in postpaid subs (up 173,000, its fourth straight quarter of net adds) may not be raging, but it's growth, notes analyst Craig Moffett: "Sprint results reported today confirm that, at least in some areas, things are improving ... Most importantly, their subscriber rolls are growing, even if only modestly."
    • Average billings per postpaid account rose 4% and ABPU (postpaid) up 3% Y/Y, it said. About 69% of postpaid sales were financed (44% on leasing).
    • Amid pressure over its cash burn, the company pointed to $11B of liquidity. Cash capex was about $900M, vs. fiscal Q4's $1.3B and the $2.3B of a year ago.
    • For the full year, Sprint guided to EBITDA of $9.5B-$10B (vs. consensus for $9.77B), operating income of $1B-$1.5B, capex of about $3B (including leased devices) and adjusted free cash flow around break-even.
    • Earnings call slides
    | Yesterday, 11:37 AM | 26 Comments
  • Yesterday, 7:57 AM
    • Postpaid phone net additions of 173K mark the fourth straight quarter of net additions and the best FQ1 in nine years.
    • Postpaid phone churn of 1.39% improved Y/Y for the sixth straight quarter, is the lowest churn rate in company history.
    • Adjusted free cash flow of $466M grew $2.7B Y/Y. Total liquidity position of $11B, about half of that in cash, cash equivalents, and short-term investments.
    • Full-year fiscal 2016 outlook continues to be operating income of $1B-$1.5B; adjusted EBITDA of $9.5B-$10B; cash capital expenditures of about $3B; adjusted free cash flow around break-even.
    • Conference call at 8:30 ET
    • Previously: Sprint EPS in-line (July 25)
    • S +3.9% premarket
    | Yesterday, 7:57 AM | 42 Comments
  • Yesterday, 7:47 AM
    • Sprint (NYSE:S): Q2 EPS of -$0.08 in-line.
    • Revenue of $8.01B (-0.2% Y/Y)
    • Shares +4.1% PM.
    • Press Release
    | Yesterday, 7:47 AM | 4 Comments
  • Sun, Jul. 24, 5:30 PM
    | Sun, Jul. 24, 5:30 PM | 3 Comments
  • Fri, Jul. 22, 5:04 PM
    • As other providers move away from unlimited-data plans, Sprint (S +0.4%) is quietly testing capless plans in a handful of markets at $60/month -- cheaper than it or even T-Mobile (TMUS +1.7%) offers currently.
    • The "Unlimited Freedom" plan is reportedly being advertised in Milwaukee and Boston at $60/month with a second line for $40/month and additional lines at $25/month; Oklahoma and parts of Arizona are seeing that offer at $50/month for each of the first two lines and extras at $25/month.
    • Sprint currently offers unlimited plans at $75/month for first, $45/month for second and extras at $30/month.
    • In another positioning against T-Mobile, it looks to be throttling streaming data for those subscribers, similar to how T-Mobile runs its Binge On and Music Freedom video and music-streaming offerings.
    | Fri, Jul. 22, 5:04 PM | 43 Comments
  • Thu, Jul. 21, 6:37 PM
    • Comcast (NASDAQ:CMCSA) says it will sell prepaid cable and Internet, borrowing a model from wireless companies' approach to low-income households and borrowing Boost Mobile (NYSE:S) stores to do so.
    • Xfinity Prepaid Services don't require a credit check or contract, and can be topped up like a prepaid phone after an initial setup charge.
    • The TV plan will have two tiers: a 45-channel plan ($80 for setup and first 30 days, plus refills of $15 for seven days or $45 for 30 days) and a 140-channel plan ($120 for start-up, $30 for seven days, $90 for 30 days). Internet will start at $80, with $15 for a seven-day refill and $45 for a 30-day refill.
    • The offering will roll out later this year to Illinois, Michigan, Georgia, Florida and Indiana, though Comcast's deal with Boost Mobile says it will offer it through Boost's 4,400-store Comcast-overlapping footprint by the end of 2017.
    • The move could appeal to the 14M-16M homes that can't pass the necessary credit check for standard contract-based pay TV.
    | Thu, Jul. 21, 6:37 PM | 10 Comments
  • Tue, Jul. 19, 1:13 PM
    • The typical metrics that telecom investors examine may not matter as much to their holdings as a favorable macroeconomic environment, industry analyst Craig Moffett writes.
    • That's accounting for the price war as well as common bellwethers like average revenue per user, he says. In most industries, developments like telecom has seen in the past year (Verizon's (VZ -0.5%) recent moves to reset pricing; T-Mobile's (TMUS -0.3%) un-carrier promotions; aggressive phone financing revamps) would spur meaty debates about valuation and growth: "But telecom isn't most industries. It has now been a full decade since fundamentals were last a major part of the telco equity performance story (good or bad)."
    • Fundamentals may matter again soon, ahead of a new iPhone introduction (that could benefit T-Mobile and Sprint (S -3.9%) more than AT&T and Verizon), and AT&T's (T -0.2%) full integration of DirecTV finances.
    • But in the meantime, macro factors are still prevalent: "When interest rates are falling and the dollar is rising, the story appears to have been pretty straightforward, after all: Buy telecom."
    | Tue, Jul. 19, 1:13 PM | 20 Comments
  • Thu, Jul. 14, 3:38 PM
    • The FCC voted unanimously today to open up four bands of frequencies above 24 GHz for 5G wireless service, setting the stage for exploiting next-generation technologies for mobile transmission.
    • That's nearly 11 GHz of spectrum (3.85 GHz in licensed bands at 28 GHz, 37 GHz and 39 GHz, and 7 GHz in an unlicensed band between 64 GHz and 71 GHz).
    • The agency says companies will be able to exploit the spectrum for "fiber-fast" capabilities, up to 100 times faster than current 4G networks.
    • In addition, the agency pledged to push for opening up more millimeter wave bands as quickly as it can, via a Further Notice of Proposed Rulemaking that looks to apply today's rules to another 18 GHz of spectrum (in eight additional high-frequency bands)
    • In related stocks: (T +0.5%); (VZ -0.2%); (TMUS -0.5%); (S +1.9%); (DISH +1%); (CMCSA +0.4%); (STRP +5.7%); (GSAT -1.2%)
    | Thu, Jul. 14, 3:38 PM | 38 Comments
  • Fri, Jul. 1, 3:33 PM
    • The FCC says it will reveal the names of bidders in the forward auction portion of the broadcast incentive spectrum auction, setting the start of the next phase likely in mid-July.
    • There are about 100 parties eligible to bid and they have a payment due by 5 p.m. today, which will validate a final list. A 15-business-day period has to follow public notice of the bidders.
    • The reverse auction concluded this week with the agency needing to raise $88B to cover $86.4B in payments to broadcasters, a sum that could mean changes to the process (including multiple rounds) as the FCC works to scare it up.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Fri, Jul. 1, 3:33 PM | 30 Comments
  • Wed, Jun. 29, 7:45 PM
    • The FCC has set the cost of the spectrum being sold in the broadcast spectrum incentive auction at a whopping $86.4B -- a sum that wireless carriers may balk at.
    • That means that the FCC might have to sell less spectrum than had been expected, or use multiple rounds to settle bidding by broadcasters.
    • The current stage is the reverse auction, where broadcasters bid low to give up their low-band airwaves to the FCC -- and participation has been strong from broadcasters who might have "significantly inflated expectations," says analyst Roger Entner. That's to be followed by a forward auction round of bidding by carriers.
    • A second round of reverse auction with the broadcasters may be needed, which could slow the entire process into 2017.
    • Spectrum players: VZ, T, TMUS, S, DISH, SBGI, EVC, CMCSA, CHTR, NXST, CBS, MEG
    | Wed, Jun. 29, 7:45 PM | 38 Comments
  • Tue, Jun. 21, 3:00 PM
    | Tue, Jun. 21, 3:00 PM | 28 Comments
  • Tue, Jun. 14, 10:46 AM
    • 16 months after the FCC voted 3-2 to impose tough net neutrality rules through its Open Internet order, a federal appeals court has upheld the ruling.The lawsuit challenged the FCC's ability to classify Internet providers as common carriers under Title II regulations, as well as to govern wired and wireless services via the same rules.
    • The FCC's rules prohibit the blocking of legal content, the throttling of legal traffic based on content type, and the creation of "fast lanes" for certain types of content. The rules exclude services such as T-Mobile's BingeOn and Verizon's Go90, which don't count against a user's mobile data cap.
    • Shares of major U.S. ISPs haven't moved much (if at all) in response to the ruling.
    • The full ruling (.pdf)
    • U.S. ISPs/carriers: VZ, T, CMCSA, CVC, S, TMUS, WIN, CTL, FTR
    | Tue, Jun. 14, 10:46 AM | 21 Comments
  • Tue, Jun. 7, 2:44 PM
    • Believing the company's investments in small cell base stations and other next-gen technologies will allow it to produce solid free cash flow and deliver superior network speeds, FBR's David Dixon has added Sprint (S +3.1%) to his firm's Alpha Generator list, while reiterating an Outperform.
    • Dixon: "There is a general lack of understanding on how Sprint can achieve a 10x increase in downlink network speed at less than half the expected cost and achieve a 30% improvement in network coverage from increasing the maximum power levels in devices, which drives a 30% decrease in cost ... If Softbank can create low-cost [pico cell] and [customer premise equipment] solutions using 2.5 GHz spectrum to densify its network, Sprint will have the potential to become the lowest-cost and fastest data network among the national carriers that are migrating to a greater dependency on low-cost WiFi spectrum ahead of a migration to low-cost, shared LTE spectrum in the 3.5 GHz band and beyond."
    • Last week: Sprint demos 5G capabilities at Copa America
    | Tue, Jun. 7, 2:44 PM | 13 Comments
  • Fri, Jun. 3, 4:39 PM
    • With the high-profile soccer tourney Copa America Centenario getting under way tonight in California, Sprint (NYSE:S) is taking advantage of the attention and foot traffic with a demo of 5G capabilities.
    • Partnering with Nokia (NYSE:NOK), the carrier used 73 GHz millimeter wave spectrum to hit download speeds of over 2 Gbps.
    • It's a "big deal" to be the first U.S. carrier to demo 5G wireless at a major public event, CTO John Saw says. The technology will "change the way we collaborate, the way we game and virtual reality. ... We're trying to show the use cases."
    • The company demonstrated a live streaming virtual reality system from VideoStitch, as well as livestreaming 4K ultra HD video.
    • The demo used beam switching to select the best antennas and send targeted signals to devices, and tested how it would deal with obstacles such as different types of window glass.
    | Fri, Jun. 3, 4:39 PM | 36 Comments
Company Description
Sprint Corp. operates as a communication company, which offers a comprehensive range of wireless and wire line communications products and services to consumers, businesses and government users. The company operates through two segments: Wireless and Wireline. The Wireless segment offers... More
Sector: Technology
Industry: Wireless Communications
Country: United States