Sprint Corporation (NYSE: S) released their fiscal Q3 2019 earnings this morning representing the period ending Dec. 31, 2019, missing analyst estimates as the company continues to lose money.

The U.S. based telecom reported total revenues of $8.08 billion, missing analyst expectations of $8.19 billion. Revenues for the quarter shrank 6% compared to the same quarter the previous year.

Sales across nearly all segments were down year over year showing the pain was evenly distributed.

While the company is still awaiting regulator approval for its $26 billion merger with T-Mobile (NYSE: TMUS) it is facing continued heated competition from AT&T (NYSE: T) and Verizon (NYSE: VZ) both of whom report earnings later this week.

Sprint reported total wireless net additions of 249,000 subscribers over the quarter due mostly to growth of postpaid subscribers.

I continue to be impressed by the commitment of Sprint employees to deliver results during this period of uncertainty. As we await a decision in the state attorneys general lawsuit, I continue to believe the merger with T-Mobile is the best way to deliver the benefits of competition to American consumers.Sprint CEO Michel Combes

From a profitability perspective the company reported EBITDA of $2.535 billion and -$0.03 earnings per share compared to consensus estimates of $2.69 billion and -$0.04 respectively.

As the company continues to invest in its network, in particular in 5G coverage, profitability will be challenged until the merger with T-Mobile can help to share the cost burden of infrastructure investments.

Sprint’s stock has been particularly battered over the past year as it lost 10% over the course of 2019 and is down an additional 7% this year. Compared to its competitors, the stock is one of the worst performers in its industry.

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