Sprint announces highest profit ever after saying it needs T-Mobile merger

From Ars Technica

Enlarge / Sprint retail location in Cleveland, Tennessee, on June 19, 2016.

Getty Images | TennesseePhotographer

Sprint yesterday announced “the best profitability in company history” thanks to growth in its customer base, just days after saying it needed to merge with T-Mobile USA in order to improve its network.

If Sprint was doing worse, the merger might not have happened. Sprint CEO Marcelo Claure said that the company’s successful turnaround “positioned Sprint for strategic opportunities which led to our proposed merger with T-Mobile.” Sprint’s profitability and free cash flow was key in giving Sprint the chance to combine with T-Mobile, he said.

In the just-ended fiscal year, Sprint said it had “its highest annual retail phone net additions in five years and the best profitability in company history with its highest annual operating income at $2.7 billion and annual net income for the first time in 11 years, even when excluding…

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