Sprint's Q2 revenue grows for the first time in two years

Despite the overall positive quarter, Sprint still falls behind rival T-Mobile in the ranking of top US wireless carriers.

Sprint Corp. posted its first year-over-year revenue gain in more two years as part of its second quarter earnings report released Tuesday.

The Overland Park, Kansas-based company reported a net loss of $142 million, or four cents per share, compared to a loss of $443 million, or $0.11 per share, the year prior.

Net operating revenue was $8.25 billion, which, at three percent above the previous year, marks Sprint's first net revenue increase since 2014.

Wall Street was expecting a loss of seven cents per share on revenue of $8.03 billion.

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"We took another step forward in our plan toward sustainable profitability and cash generation with this quarter's results," said CEO Marcelo Claure in prepared remarks.

Despite the overall positive quarter, Sprint, which is 80 percent owned by Tokyo-based SoftBank Corp, still falls behind rival T-Mobile in the ranking of top US wireless carriers.

In its third quarter earnings released yesterday, T-Mobile said it added 851,000 postpaid accounts, which are the most lucrative category of wireless subscribers, compared to Sprint's 347,000. Sprint's total net additions were 740,000 in the quarter, well below T-Mobile's 2 million net new subscribers. Sprint's total postpaid churn was 1.52 percent, a record low for the wireless carrier.

As for the outlook, Sprint raised its revenue guidance from a range of $1 billion to $1.5 billion to a range of $1.2 billion to $1.7 billion.

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