After two years of declines, new customer sign-up volume was helped by discounts
Reuters
(Reuters) - Sprint Corp, the No. 4 U.S. wireless carrier, on Tuesday posted a smaller-than-expected quarterly loss and raised its earnings outlook, helped by a cost-cutting drive and a boost in subscribers, sending its stock up as much as 22 percent.
Sprint shares soared to a session high of $3.08 before receding to $3.01 in the afternoon, still up more than 19 percent on the day. Those gains nearly erased the 21 percent fall in the stock in 2016 through its close on Monday.