Sprint Corporation (NYSE:S) [Detail Analytic Report] revealed that its operating results for fiscal year 2015 fourth quarter and full year, including a nearly two million year-over-year improvement in Sprint platform postpaid phone net additions and the lowest annual Sprint platform postpaid phone churn in company history. The company also reported fiscal year 2015 net operating revenue of $32.2 billion, operating income of $310 million, and Adjusted EBITDA of $8.1 billion, which grew 36 percent year-over-year.
For fiscal fourth quarter, firm released that net operating revenue of $8.1 billion, operating income of $8 million, and Adjusted EBITDA of $2.2 billion, which grew 24% year-over-year. Sprint has a multi-year plan to transform the way it does business and significantly lower its cost structure. The company has realized a $1.3 billion reduction in cost of services and selling, general and administrative (SG&A) expenses in fiscal year 2015.
Verizon Communications Inc. (NYSE:VZ) [Detail Analytic Report] Hearst Media Partners reported that will introduce its first two new multiplatform digital video channels at tonight’s Digital Content NewFronts in New York City: RatedRed.com and Seriously.TV. RatedRed.com is a multiplatform digital video channel for millennials from the heartland, offering this audience a brand of their own, with a lens on the world via news updates, documentaries and scripted and nonscripted series across topics like music, food, outdoor life, military affairs, politics and faith.
Seriously.TV is a multiplatform digital video channel offering comedic news updates throughout the day at a time when younger viewers are turning to their phones instead of late-night programming for their take on world events.
Frontier Communications Corporation (NASDAQ:FTR) [Detail Analytic Report] revealed that it achieved solid Q1 results while preparing for industry’s leading and most complex flashcut conversion in its new California, Texas and Florida markets. The flashcut conversion was executed on April 1, and the Company will begin to realize financial results from its newly combined business in the coming quarters.
Total revenue for first quarter of 2016 was $1,355 million. This represents a sequential decline of $58 million, or 4%, from the $1,413 million reported in the fourth quarter of 2015, primarily resulting from a one-time sequential decline of $40 million in the recognition of regulatory revenue that was in line with previously disclosed expectations and a decline in voice services revenue.