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While its figures may not have been spectacular, they clearly helped to calm investors' nerves-a feat the carrier failed to achieve in its prior quarter. That reversed a loss of $302 million a year ago and beat analysts expectations of a 1 cent a share loss. CEO Marcelo Claure credited the company's ongoing cost-cutting initiatives, which have seen Sprint slash spending by almost $4 billion over the last nine quarters.

Here's a closer look at some other key metrics from Sprint's quarterly earnings report. The sources also claim that the two cable companies were also in talks about investing in Sprint. Postpaid phone churn came in at 1.5%, and total postpaid churn was 1.65%.

Doing so would combine Charter's more than 23 million landline broadband customers, and more than 17.1 million pay TV subscribers, with a wireless company looking for assets to compete with vertically integrated giants Verizon and AT&T. "Every time a new carrier launches a new promotion or changes the way they do business... that automatically causes the market to shift", he said. Sales increased 2% to $8.2 billion in the past quarter, as it added 88,000 regular monthly phone customers.

The telecom company reported net income of $206 million and its highest Ebitda in almost 10 years of $2.9 billion in its fiscal first quarter.

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The CEO, however, repeatedly said that Sprint has a lot of potential options.

After Charter rebuffed an overture over the weekend that would essentially have the No. 2 cable company buy SoftBank's No. 4 USA wireless carrier, Sprint, Bloomberg said that Son will try to buy Charter outright and combine it with Sprint.

Summary: Sprint's modest postpaid phone gains and its impressive financial turnaround notwithstanding, the nation's No. 4 carrier still faces huge challenges as the industry prepares to enter the 5G era. SoftBank has achieved sizable girth through highly leveraged financing of acquisitions like Alibaba Group Holding Ltd., for which it has achieved outsized returns, and Sprint, on which it has lost billions. Not only did the company dish out another progressive quarter, the pace of that progress seems to be accelerating, inspiring more than a 2% improvement in the value of Sprint stock early Tuesday.

The company pulled out all the stops this past quarter.