August 1, 2018 / 11:39 AM / 3 months ago

Sprint profit falls 16 pct

Aug 1 (Reuters) - U.S. wireless carrier Sprint Corp on Wednesday reported a 16 percent fall in first-quarter profit, as it ramped up spending to attract more subscribers.

Net income fell to $173 million, or 4 cents per share, in the quarter ended June 30, compared with $206 million, or 5 cents per share, a year earlier.

The company’s total operating expenses rose 4.5 percent to $7.31 billion. (Reporting by Shariq Khan and Vibhuti Sharma in Bengaluru)

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