Sprint Slightly Lowers Revenue Estimate
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Sprint Corp. slightly lowered its estimates for fourth-quarter revenue from its local and long-distance services, but reaffirmed earnings projections for the division.
The nation’s third-largest long-distance carrier said it expects revenue from its FON Group, excluding one-time charges, to be “in the low $4-billion range,” compared with its previous forecast of $4.1 billion to $4.2 billion.
In its wireless PCS Group, fourth-quarter earnings before interest, taxes, depreciation and amortization are expected to fall in the upper $300-million range, with a full-year total in the low $1.5-billion range. Sprint previously had estimated that figure at $1.6 billion.
Shares of Sprint fell 27 cents to $19, and Sprint PCS fell 64 cents to $17.32, both on the New York Stock Exchange.
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