Sprint Loss Shrinks in First Quarter

Overland Park-based Sprint reported a first-quarter loss in the midst of its merger with T-Mobile, but its results were better than the prior financial period.

The wireless carrier’s first-quarter net loss came in at $111 million, down from what was nearly a $2.2-billion fourth-quarter plunge. It earned $176 million in 2018’s first quarter.

Total revenue also fell, to just over $8.1 billion, from a little more than $8.4 billion.

“While we delivered good results in the first quarter relative to expectations, the business still faces several structural headwinds and I remain convinced the merger with T-Mobile is the best outcome for our customers, employees, industry and all stakeholders,” said Sprint CEO Michel Combes, in a press release.

Sprint has put a lot of efforts into updating its network to support 5G service. So far it has 5G in the Kansas City, Atlanta, Chicago, Dallas and Houston areas.

Last week the Department of Justice approved the merger with T-Mobile, which would create a company with combined revenues of about $77 billion. It was an important step, though the two must still meet several criteria to gain full governmental approvals.