Sprint Posts $765 Q2 Loss; To Cut 2,000 More Jobs

(RTTNews) - Sprint Corp. (S) reported a net loss for the second quarter of $765 million or $0.19 per share, compared to a net loss of $699 million or $0.18 per share for the year-ago quarter.

Net operating revenues for the second quarter was $8.49 billion, compared to $7.75 billion in the same quarter last year. Analysts polled by Thomson Reuters expected the company to post revenue of $8.67 billion for the second quarter.

Looking ahead, the company lowered its calendar 2014 adjusted EBITDA guidance to a range of $5.8 billion to $5.9 billion from its prior guidance of $6.7 billion to $6.9 billion.

The company also announced additional headcount reductions of about 2,000 positions as part of its cost-cutting efforts.