Well, no, unfortunately, that's NOT profit (NOW we know why you're invested in this POS!)
Let's say I have NO income, but manage to borrow $37 billion and use that borrowed money to pay my bills and TRY - but fail - to actually turn a profit. After 2.5 years, just like Sprint, I've failed to make any money and, in fact, my business is failing not only due to finances but the fact that my customers are deserting me for other vendors.
Time to pay the Notes, though! I'll negotiate to pay ONLY the interest and save the remainder of my HUGE loan - which'll be used in the future for the same thing should my business continue to deteriorate.
SO - Bank says, "Gimme $50 million to cover your payment." I write a check against the $37 billion checking account I've funded ONLY through borrowing other peoples' money. Voila!
$37,000,000,000 - $50,000,000 = $36,950,000,000 still in the bank = POSITIVE (FREE) CASH FLOW !!
Yup - just like other now-bankrupt companies, I'll still have POSITIVE CASH FLOW until the BORROWED money runs out!