Sprint Corporation (NYSE:S) shares are up more than 2% after the wireless company reported that its Q1 net loss narrowed, far surpassing expectations, with revenue also edging ahead of forecasts.
The net loss was $151, or $0.04 per share, from $1.03 billion, or $0.26 a share a year earlier. Analysts expected a loss of $0.08. The company reported operating income of $420 million, its best result in seven years. Revenue slipped to $8.87 billion from $9.12 billion a year ago, but topping forecasts for $8.69 billion.
The company now expects calendar 2014 adjusted EBITDA to be between $6.7 billion and $6.9 billion. The company expects calendar 2014 capital expenditures of approximately $8 billion. The shares were up 2.2% at $7.60 in a 52-week range of $5.15 – $11.47.
Boston Scientific Corporation(NYSE:BSX) reported Q1 earnings that exceeded analysts’ expectations and lifted its guidance range for FY14.
The medical device maker said its Q1 adjusted earnings rose to $0.20 per share from $0.16 the year earlier, exceeding the $0.11 average estimate from analysts polled by Capital IQ. Sales rose to $1.77 billion from $1.76 billion a year earlier compared to the $1.8 billion consensus. On a GAAP basis, Boston Scientific had a profit of $133 million or $0.10 per share compared to a loss of $354 million or $0.26 per share a year ago.
For FY14, the company reaffirmed its sales guidance range between $7.3 billion and $7.5 billion, straddling the $7.4 billion estimate, and now expects adjusted EPS between $0.77 and $0.82, up from the previous range between $0.75 and $0.80 and above the $0.52 average estimate. For Q2, it is estimating sales between $1.84 billion and $1.89 billion compared to the $1.86 billion estimate and adjusted EPS between $0.18 and $0.20 compared to the $0.12 consensus.
BSX closed higher 1.5% and added another 1% in after-hours trade Monday, near the higher end of the 52-week range between $7.38 and $14.08. The stock was inactive in recent pre-market trade.
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