Sprint net subscriber additions blows past estimates

[October 31, 2018]  (Reuters) - Wireless carrier Sprint Corp dwarfed Wall Street's estimates for net new phone subscribers who pay a monthly bill in its quarterly results on Wednesday as it strives to undercut larger competitors on price.

Sprint, which is awaiting regulatory approval for a merger with bigger rival T-Mobile US Inc, said it added a net 109,000 phone subscribers during the second quarter, down from 168,000 new subscribers it added last year.

Analysts on average had expected the company to add a net 22,000 subscribers, according to research firm FactSet.

The company reported net income attributable to the company of $196 million, or 5 cents per share, in the quarter ended Sept. 30, compared with a net loss of $48 million, or 1 cent per share, a year earlier.

Total operating revenue rose to $8.43 billion from $7.93 billion. Analysts had expected company to report revenue of $7.97 billion.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; editing by Patrick Graham)

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