Sprint profitable for first time in three years

SoftBank founder and tech billionaire Masayoshi Son may make an offer this week to purchase Charter Communications the nation's second largest cable-TV-Internet provider and the recent buyer of Tampa Bay's Brighthouse Nertworks

And there was good news on that score on Tuesday, even as the much leaked deal talks continued to fizzle.

Shares of Sprint Corporation (NYSE: S) opened almost 7 percent higher on Tuesday after it reported its first quarter fiscal earnings for this year, the first time in three years that the company has posted a quarterly profit. Net income of 5 cents per share significantly beat average estimates of a net loss of 1 cent per share, according to Thomson Reuters I/B/E/S. Net income was $206 million - or $0.05 per share - compared to a loss of $302 million - or $0.08 EPS a year ago.

Asked about the sustainability of the return to profitability, Claure pointed to the revenue growth of the past few quarters. Revenue rose 2 percent to $8.16 billion. "That's the first indication of a sustainable turnaround".

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It marked the company's highest group of quarterly earnings for almost ten years, Sprint highlighted.

Get Data Sheet, Fortune's technology newsletter. Charter already publicly stated it has no intentions of merging with Sprint in any capacity, whether by acquiring the fourth largest mobile service provider in the United States or being acquired itself.

Potential M&A: Claure was understandably coy about which company-or companies-Sprint might be most likely to partner with, saying multiple times that the carrier has "plenty of options".

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This week, cable company Charter said it was not interested in buying Sprint after published reports said Sprint had proposed an acquisition by Charter.

SoftBank Group Corp has lined up $65 billion in financing as chairman Masayoshi Son mulls a formal takeover offer for Charter Communications Inc, Bloomberg reported quoting people familiar with the matter. "That caught us a little off guard".

In Tuesday's pre-market deals Sprint was up 3.13% at US$8.23.

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Some industry analysts previously speculated that SoftBank had no expectations of Charter agreeing to any kind of a merger and has simply submitted a bid in an effort to gain more leverage in its upcoming consolidation talks with T-Mobile that are expected to resume in the coming days after being put on hold for two months due to the aforementioned exclusivity negotiation period that Sprint agreed to enter alongside Comcast and Charter itself.


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