That reversed a loss of $302 million a year ago and beat analysts expectations of a 1 cent a share loss.
Revenue rose about 2 percent to $8.16 billion, missing the $8.19 billion analysts expected, according to Zacks.
Sprint also scored 35,000 new pre-paid additions, up from a loss of 306,000 in the same period previous year, but less than the 291,000 prepaid additions in the preceding quarter.More news: After Nitish's defection, BJP set to scalp SP & BSP legislators in UP
Sprint posted its first net profit in three years in its fiscal first quarter to June, and EBITDA rose to its highest level in almost 10 years. He also maintained Sprint can be sustainable as a standalone company, but he made it clear the carrier is eagerly pursuing a tie-up with a variety of players.
Aggressive new promotions to court new subscribers led to 61,000 new connections during the quarter, Sprint said, including 88,000 new post-paid subscribers - it's most lucrative segment. One week after that move, Virgin Mobile, Sprint's prepaid offspring, doubled down with a year of service for $1 and a decision to offer only Apple iPhones.
Sprint reduced postpaid phone churn to 1.5 percent and total postpaid churn was 1.65 percent. Average revenue per user on the Sprint platform fell by about $4 per month year over year for postpaid subscribers and rose by more than $5.00 per prepaid customer compared with the first quarter of 2016.More news: Indian Women's Cricket Team Receives Immense Reception from Crowd at Mumbai
"Sprint reached an important milestone this quarter by returning to profitability for the first time in three years", CEO Marcelo Claure said in a statement. Charter didn't clarify on why it doesn't intend to merge with Sprint, though possible issues that the company could face by indulging that idea are numerous and range from a significant increase in leverage to additional complications of an already convoluted ownership structure of both firms. Sprint now expects operating income of $2.1 billion to $2.5 billion, up from $2 billion to $2.5 billion.
HSBC Holdings plc (HSBC) - The London-based global bank said it plans to buy back another $2 billion in shares after reporting strong quarterly profits thanks to higher interest rates that helped fatten margins for its lending business. Shares closed at $7.98 on Friday. Claure stressed, however, that Sprint would not be announcing any deal on the earnings call.More news: N.Korea could carry out missile test soon