Harley Davidson and Sprint released their latest earnings reports before opening bell this morning. Sprint posted losses of 12 cents per share on $8.5 billion in revenue. Analysts had been expecting losses of 8 cents per share on $8.3 billion in revenue. In the same quarter a year previously, the company reported losses of 21 cents per share on $8.1 billion in revenue.
Harley Davidson reported earnings of 27 cents per share on $1.11 billion in sales for the fourth quarter. Analysts had been looking for 31 cents per share in earnings and $977 million in revenue. In the same quarter a year previously, the motorcycle manufacturer reported earnings of 22 cents per share on $1.18 billion in sales.
Sprint shares fall after earnings this morning
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Sprint’s postpaid phone net additions rose to the highest level in four years, reaching 368,000 and beating Verizon and AT&T for the fourth quarter in a row. Total net adds amounted to 577,000 during the fourth quarter, and total postpaid churn was 1.67%. Adjusted EBITDA rose by more than $500 million to $2.5 billion.
Sprint is turning the corner, Sprint Chief Executive Marcelo Claure said in a statement this morning. Even with all the aggressive promotional offers from our competitors, we were still able to add more postpaid phone customers than both Verizon and AT&T while continuing to grow revenues, take costs out of the business, and improve the network.
Shares of Sprint slipped by as much as 1.65% to $8.96 per share in premarket trades this morning.
Harley Davidson shares slip after earnings
Harley Davidson’s fourth quarter motorcycle revenue fell 8.8% to $865 million in the fourth quarter. Motorcycle shipments fell 12% to 42,414.
For this year, the company expects motorcycle shipments to be flat to down modestly. Shares of Harley Davidson tumbled by as much as 3.83% to $55.70 in premarket trades following this morning’s earnings report.