View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 14, 1997updated 03 Sep 2016 7:26pm

SPRINT HAS RECORD Q3, PROFITS FROM CORE BUSINSESS UP 12.3%

By CBR Staff Writer

Sprint Corp, the third largest long distance carrier and second biggest independent local carrier in the US, is claiming a record quarter for its core businesses once the effects of its experiments in emerging markets and various loss making joint ventures have been excluded. Third quarter net profits to September 30 were down 32.3% at $211.4m on revenue that climbed 7.9% to $3.792bn. But core business activities grew operating profit to $689m, an increase of 12.3%. Long distance revenues increased by 8.1% to $2.25bn in the quarter, representing a 14% increase in call minutes. Local revenues rose by a modest 4.2% to $1.34bn representing the addition of some 390,000 access lines. Our third quarter reflected outstanding core business performance across-the-board, said chairman and CEO William T Esrey. Global One, Sprint’s joint venture with Deutsche Telekom and France Telecom to provide specialized telecoms services to large multi-national companies, grew its revenues by 20% in the quarter to $280m but turned in attributable losses to Sprint of $41m, up from $21m last year. Sprint PCS, the group’s mobile telecommunications service, turned in attributable losses of $186.9m up from losses last time of $47.6m. The emerging markets sector contributed a loss of around nine cents per share, up from two cents per share last time, mainly down to Sprint’s internet access and other operations the company said.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU