Sprint manages to post its first annual profit in 9 years
Although we are already through the first quarter of 2016, this is a time where many companies release their fiscal year numbers, letting everyone know how well they performed in the previous year. For nearly the last decade, Sprint was consistently under-performing and not turning a profit. That’s all changed as of 2015.
Sprint released their fiscal numbers for 2015, and has announced it has turned its first positive annual operating income for the first time in 9 years. That is huge for a company that has been met with much turmoil over the last decade or so. When looking at the bare numbers, Sprint’s operating income grew 36% year-over-year when comparing 2015 to 2014, which is quite the feat in today’s cutthroat mobile market.
In addition to turning its first profit in almost a decade, Sprint also announced it outperformed Verizon and AT&T in postpaid additions in the fourth quarter of 2015. By adding 447,000 postpaid customers in the fourth quarter of 2015, the company brought its yearly total up to 1.2 million, making it the third consecutive quarter of positive postpaid additions.
If this is a sign of things to come, it will be interesting to see if Sprint can keep its momentum swinging in the right direction. I for one am a big fan of competition and would love to see Sprint come out swinging in 2016 to gain more of the market share back.
[via Sprint]