Sprint Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported total net operating revenues of $8,549 million against $8,107 million a year ago. Operating income was $311 million against loss of $197 million a year ago. Loss before income taxes was $368 million against $739 million a year ago. Net loss was $479 million against $836 million a year ago. Basic and diluted net loss per common share was $0.12 against $0.21 a year ago. EBITDA was $2,403 million against $1,668 million a year ago. Adjusted EBITDA was $2,450 million against $1,898 million a year ago. Net cash provided by operating activities was $650 million against $806 million a year ago. Capital expenditures - network and other was $478 million against $994 million a year ago. Capital expenditures - leased devices was $767 million against $607 million a year ago. Adjusted free cash flow was negative $646 million in the quarter compared to positive $339 million in the year-ago period. The prior year quarter included $1.1 billion of proceeds from the first sale-leaseback transaction with Mobile Leasing Solutions, LLC (MLS), while this quarter included a cash outflow of approximately $370 million related to the repurchase of the devices sold in the first MLS transaction.

For the nine months, the company reported total net operating revenues of $24,808 million against $24,109 million a year ago. Operating income was $1,294 million against $302 million a year ago. Loss before income taxes was $637 million against $1,315 million a year ago. Net loss was $923 million against $1,441 million a year ago. Basic and diluted net loss per common share was $0.23 against $0.36 million a year ago. EBITDA was $7,334 million against $5,498 million a year ago. Adjusted EBITDA was $7,254 million against $5,988 million a year ago. Net cash provided by operating activities was $2,900 million against $2,603 million a year ago. Capital expenditures - network and other was $1,421 million against $3,958 million a year ago. Capital expenditures - leased devices was $1,530 million against $1,724 million a year ago. Net debt as at December 31, 2016 was $31,257,000 against $31,317,000 a year ago.

The company now expects adjusted EBITDA of $9.7 billion to $10 billion, at the high end of its previous expectation of $9.5 billion to $10 billion. The company now expects operating income of $1.4 billion to $1.7 billion, at the high end of its previous expectation of $1.2 billion to $1.7 billion. The company now expects cash capital expenditures, excluding devices leased through indirect channels, of $2 billion to $2.3 billion. The company's previous expectation was less than $3 billion. · The company continues to expect adjusted free cash flow around break-even.