Sprint Corp, Harley Davidson Inc Shares Fall After Posting Earnings

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Sprint Corp, Harley Davidson Inc Shares Fall After Posting Earnings

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.

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