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Sprint Adds More Subscribers Than Expected


No. 4 U.S. wireless carrier Sprint added more subscribers than expected in the third quarter, helped by promotions, and posted a smaller quarterly loss as it cut costs.

The company added a net 405,000 subscribers who pay their bills on a monthly basis in the quarter ended Dec. 31. Analysts were expecting 380,000, according to market research firm FactSet StreetAccount.

Sprint s , majority owned by Japan’s SoftBank sftby , said in 2015 that it aimed to cut fiscal 2016 expenses by as much as $2.5 billion through layoffs and cost controls.

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“Sprint is turning the corner,” Chief Executive Marcelo Claure said in a statement.

“Even with all the aggressive promotional offers from our competitors, we were still able to add more postpaid phone customers than both Verizon and AT&T.”

The company earlier this year said it plans to add 5,000 jobs in the United States as a part of a previously disclosed pledge by SoftBank.

The company said its net loss narrowed to $479 million, or 12 cents per share, from $836 million, or 21 cents per share, a year earlier.

Churn, or customer defections among wireless retail customers who pay bills on a monthly basis, increased to 1.67% of total wireless subscribers, compared with the average analyst estimate of 1.6%, according to FactSet.

Net operating revenue rose to $8.55 billion from $8.11 billion, beating analysts’ average estimate of $8.27, according to Thomson Reuters I/B/E/S.

Shares of the company were up 1.5% at $9.25 in premarket trading on Tuesday.

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