Sprint shares rise on CFO hopes for rev turnaround

NEW YORK (Reuters) - Sprint Nextel Corp S.N shares rose more than 5 percent on Monday after the company's chief financial officer said he hoped to see revenue declines slowing this year and a turn to revenue growth several quarters ahead.

Sprint shares rose 18 cents to $3.46 on Nasdaq after Sprint’s CFO Bob Brust said the No. 3 U.S. mobile operator could see revenue stabilizing this year and could start growing revenue again in “several quarters.”

He said that revenue growth would come from Sprint’s prepaid business and a narrowing of losses of postpaid monthly bill paying customers.

“Revenue this year we hope is more stable or flattish,” Brust said in a conference call with analysts. “Maybe in the next several quarters we’ll actually see some growth in revenue, which would be the end of the turnaround. if we started moving up.”

Analysts said that the comments likely encouraged some investors even though Brust’s timeline for revenue growth expectations was not very specific.

Shares in Clearwire Corp CLWR.O, which is majority owned by Sprint, saw a increase of more than 11 percent also on Nasdaq and traded up 78 cents at $7.55.

Reporting by Sinead Carew, editing by Gerald E. McCormick