Sprint Q3 Net Operating Revenues Down 2% - Quick Facts

(RTTNews) - Sprint Corp. (S) posted operating results for the third fiscal quarter of 2014, including adding nearly 1 million Sprint platform connections, a 42 percent growth year-over-year, as customers responded positively to the company's new value proposition.

For the third quarter of 2014, net operating revenues of $9 billion were down 2 percent year-over-year, as lower service revenue was mostly offset by higher equipment revenue. Net loss for the latest quarter amounted to $2.38 billion, or $0.60 per share.

Operating loss was $2.5 billion, compared with an operating loss of $576 million in the year-ago quarter, as the firm recorded a non-cash impairment charge of around $2.1 billion. The non-cash charge includes a $1.9 billion reduction to the Sprint trade name and approximately $200 million to reduce the carrying value of wireline network assets. Excluding this non-cash impact, operating loss would have improved $169 million year-on-year.