Sprint shares are exploding higher

Sprint shares spiked as much as 18% in pre-market trading on Tuesday after the company reported fiscal-third-quarter earnings results.

The wireless carrier posted a narrower-than-expected net loss of 21 cents per share, compared to the expectation for 26 cents according to Bloomberg.

The company added 501,000 subscribers monthly, fewer than the 521,000 that analysts had projected. The company said net additions of postpaid subscribers was at a three-year high of 366,000.

Sprint shares have fallen 40% over the past year.

More to come…

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