On Friday, Shares of Sprint Corporation (NYSE:S), gained 2.43% to $3.37.
Sprint Corporation stated operating results for the first fiscal quarter of 2015, counting record low Sprint platform postpaid churn of 1.56 percent, total net additions of 675,000, and for the fifth successive quarter, reduced postpaid phone losses to reach phone net additions in May and June. In addition, the company stated net operating revenue of $8 billion, operating income of $501 million and Adjusted EBITDA* of $2.1 billion, and is raising its fiscal year 2015 Adjusted EBITDA* outlook from the previous expectation of $6.5 to $6.9 billion to $7.2 to $7.6 billion, not taking into account any accounting impacts from potential lease financing.
“Over the past year, Sprint has made meaningful progress in our turnaround by improving our network performance and enhancing our overall value proposition,” said Sprint CEO Marcelo Claure. “As a result, we hit noteworthy milestones during the quarter by posting the company’s lowest-ever churn and recording postpaid phone net additions in both May and June, in addition to for a third successive month in July. Going forward, we are confident in our plan to leverage our unique spectrum assets to make our network a competitive advantage, aggressively reduce operating costs, and utilize our business relationships and assets to fund our turnaround.”
RootScore® Awards Demonstrate Continued Progress on Network Performance; Next Evolution Underway
Sprint remained focused on building a network that delivers the consistent reliability, capacity and speed that customers demand and its progress continues to be recognized. Independent mobile analytics firm RootMetrics demonstrated the company’s network improvements by awarding Sprint a total of 180 first place (outright or shared) RootScore Awards for overall, reliability, speed, data, call, or text network performance in 125 markets measured in the first half of 2015 contrast to only 27 awards in the year-ago periodi.
More recently, the company declared the availability of carrier aggregation, which produces more capacity and is predictable to double data speeds, addressing a key area for improvement. The company is rolling out two-channel (2×20 MHz) carrier aggregation, a feature of LTE-Advanced that combines bands of spectrum to create wider channels in the 2.5 GHz band, on select sites within various markets across the country. In addition, Sprint is one of the first operators to roll out carrier aggregation with antenna beamforming, which significantly improves customers’ experience at the cell edge. Tests by independent third parties have confirmed the performance improvements of these actions.
Sprint has made noteworthy progress on network performance and has started the next evolution of the network. This will involve noteworthy densification of the network counting additional macro cell sites, deployment of tens of thousands of small cells, and further expansion of the 2.5 GHz spectrum across the company’s existing sites.
Sprint Corporation, through its auxiliaries, provides various wireless and wireline communications products and services to consumers, businesses, government subscribers, and resellers in the United States, Puerto Rico, and the U.S. Virgin Islands.
Shares of MBIA Inc. (NYSE:MBI), declined -2.29% to $5.98, during its last trading session.
MBIA stated Combined Operating Income (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) of $19 million or $0.11 per diluted share for the second quarter of 2015 contrast with Combined Operating Income of $2 million or $0.01 per diluted share for the second quarter of 2014. The improvement in Combined Operating Income for the three months ended June 30, 2015 contrast with the same period of 2014 was driven primarily by a lower tax provision, as the 2014 quarter had a higher effective tax rate due to a tax reserve enhance. In addition, higher refunding premiums earned and lower expenses, counting a 53 percent reduction of loss and loss adjustment expenses, contributed to the improved 2015 results. The Company’s share repurchases further contributed to the enhance in Combined Operating Income per share.
Operating Income and ABV per share provide investors with two perspectives of the Company’s financial results that administration uses in measuring financial performance.
Merged GAAP net income was $64 million, or $0.36 per diluted share, for the second quarter of 2015 contrast with merged net income of $120 million, or $0.45 per diluted share, for the second quarter of 2014. The decrease in merged net income for the second quarter of 2015 as contrast to the year-ago quarter was primarily due to a tax valuation allowance release during the second quarter of 2014.
MBIA Inc. provides financial guarantee insurance services to public finance markets in the United States and internationally. The company operates through U.S. Public Finance Insurance, and International and Structured Finance Insurance segments.
Finally, Hertz Global Holdings, Inc. (NYSE:HTZ), ended its last trade with -2.45% loss, and closed at $15.93.
Hertz Global Holdings will host a live webcast discussion of its 2015 second quarter financial results on Tuesday, August 11, starting at 8:00 a.m. U.S. Eastern. This webcast can be accessed through a link on the Investor Relations section of the Hertz website, IR.Hertz.com, and will remain available for replay for about one year.
Hertz Global Holdings, Inc., through its auxiliaries, rents and leases cars and trucks in the United States and internationally. It operates in four segments: U.S. Car Rental, International Car Rental, Worldwide Equipment Rental, and All Other Operations.
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