Sprint posted a quarterly profit for the first time in three years — $206 million in net income, compared with a $302 million loss for the same period a year ago; it’s in the middle of a five-year turnaround plan and cut costs by $370 million (to roughly $7 billion) in the second quarter and expects an additional $1.3 billion to $1.5 billion in year-over-year reductions in fiscal 2017.
Much of the cost-cutting has been accomplished by lowering subscriber acquisition costs. Sprint President/CEO Marcelo Claure told analysts on Tuesday, at one time the carrier streamlined its subscriber plans; “Now there’s only one way to buy a device and one rate plan.” Continue Reading
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