July 30, 2014 / 11:50 AM / 3 years ago

CORRECTED-Sprint's revenue beats estimate as network upgrade progresses

(Corrects to first quarter, not second quarter throughout)

WASHINGTON, July 30 (Reuters) - Sprint Corp reported higher-than-expected first-quarter revenue on Wednesday, as the company expanded its high-speed coverage and came closer to completing a network upgrade that had caused a massive drop in its customer count.

The company, which is 80 percent owned by Japan’s SoftBank Corp, said it earned $23 million, or 1 cent a share, in the first quarter, following a loss of $1.6 billion, or 53 cents a share, a year earlier.

Revenue fell to $8.8 billion from $8.9 billion a year earlier, but beat the average analyst estimate of $8.7 billion according to Thomson Reuters I/B/E/S.

Reporting by Marina Lopes; Editing by Bernadette Baum

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