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Sprint's Troubles Continue To Mount

When it comes to the phone wars, Sprint (S) is not doing well at the moment. The company has become very aggressive with its promotions, but that has come at a cost. Small subscriber gains are being dwarfed by drops in revenues per user, so the company is falling further behind. On Thursday, the company announced its fiscal third quarter results. Shares bounced on the news, and are now more than 25% above their 52-week low. I'm not a big believer in the most recent report, and believe this might be the perfect opportunity for investors to bail on the name.

Sprint reported quarterly revenues just under $9 billion, which beat analyst estimates, but was still down about $170 million over the prior year period. The company announced nearly 900 thousand wireless net additions in the quarter, better than most had hoped for. However, these gains were offset… Read More …