Friday, May 6, 2016

Sprint To Slash Capital Spending

 The carrier intends to lop off as much $1.7 billion in network equipment and other capital goods in fiscal year 2016. Sprint invested $4.7 billion in the 2015 fiscal year and $5.4 billion in 2014, according to RCRWireless.
Sprint delivered the news earlier this week when it announced its quarterly financial results with a focus on cost reductions in the coming months and quarters. In its outlook, Sprint management said it expected to see a $2 billion savings from handset lease restructuring and pick up a 40 percent reduction in its capex budget. The strategy got a lukewarm response by some on Wall Street.
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