Sprint Corp Once Again Post Losses in the Fiscal Fourth Quarter; CEO Promises Some Big Changes
Sprint Corp headquartered in Overland Park, Kansas for almost a decade has lost massive amounts of money and has trimmed jobs to cut its spending.
Marcelo Claure, the company's CEO has been holding the helm for turbulent months and with Sprint's fourth-quarter and 2015 full-year earnings report, he promised some big changes at the wireless carrier.
He has struggled with massive budget cuts amounting to billions and has overseen about 6,200 job losses. Under him, the company has pursued customers of its rivals with insistent deals in pricing.
In the fourth quarter that ended on March 31, the company lost money once more. For the fiscal fourth quarter the losses marked $554 million or 14 cents a share. However, the full year earnings of 2015 portrayed a better picture where the company narrowed its losses by greater than thirty percent to $2 billion compared to the loss of $3.3 billion which Sprint posted in 2014.
On May 3, Sprint announced its fourth-quarter revenue to be $8.1 billion. That is somewhat a slide compared to $8.3 billion during the period a year back. The company's full year revenue for 2015 was $32.2 billion again a dip from $34.5 billion compared to fiscal 2014.
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