Sprint Warns Earnings Will Miss Expectations

Sprint Corp., the third-largest U.S. long-distance phone company, said second-quarter and full-year earnings will miss forecasts after prices for phone calls declined. Second-quarter earnings will be 28 cents to 30 cents a share, and full-year earnings will be $1.13 to $1.18 a share, Sprint said. The company was expected to report second-quarter profit of 32 cents a share and full-year earnings of $1.29 a share, according to analysts polled by Thomson Financial.

Sprint shares closed off 6 cents at $21.58 on the NYSE. The Westwood, Kan.-based company provided its revised forecasts after the close of regular U.S. trading.