Cost Savings Help Sprint to Post First Net Income In Three Years in Q2 2017

Sprint on Tuesday announced its first net income in three years in the second quarter, ending June 30. 

The fourth largest Operator in the US managed to make $206 million in net profit, on the back of operating income of $1.2 billion, and adjusted EBITDA of $2.9 billion.

The company also reported net operating revenues of $8.2 billion, its fourth consecutive quarter of year-over-year growth, and 88,000 postpaid phone net additions, its eighth consecutive quarter of net additions. 

Sprint also managed to add 35,000 prepaid phones over the same period, compared to net losses of 306,000 in the prior year. This brings its total net adds to 61,000. 

Sprint's postpaid phone churn was 1.50 percent, compared to 1.58 percent Q1 2017 and 1.39 percent in the same quarter last year.

Sprint said it continued to improve its cost structure by delivering nearly $370 million of combined year-over-year reductions in cost of services and SG&A expenses in the quarter, bringing the total reduction during the last nine quarters to nearly $4 billion.