Sprint's wireline revenues drop to $746M on lower voice, data, Internet results
Sprint (NYSE: S) reported that its wireline revenues were $746 million, down sequentially and year-over-year from $770 million in the first quarter of 2014 and $910 million in the same period a year ago.
The wireline revenue decline is largely due to wider declines in voice, data and Internet service revenues, continuing the trend it saw in the first quarter.
During the quarter, voice and data revenues declined sequentially to $327 million and $56 million from $352 million and $62 million, respectively. Internet revenues remained flat sequentially at $345 million but down from $432 million in the year-ago quarter.
From an overall financial perspective, Sprint's net income was $23 million, which it said was the best performance it reported in "almost seven years when excluding the non-cash transaction-related impacts from last year, and consolidated operating income of $519 million."
Revenue was $8.79 billion, slightly beating analysts' expectations, according to The Wall Street Journal.
Shares of Sprint were listed at $8.06, up 6 cents, or 0.75 percent in Wednesday morning trading on the New York Stock Exchange.
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