- T-Mobile US, Inc (NASDAQ:TMUS) reported preliminary wireless subscriber growth for the fourth quarter that slightly beat analysts’ estimates.
- The second-largest U.S. mobile service provider added 927,000 new phone customers, beating the analyst expectation of 921,000, Bloomberg reports.
- T-Mobile US also signed up 524,000 new high-speed broadband subscribers, missing the analyst expectation of 560,000.
- Also Read: Polish Watchdog Charges T-Mobile For Misleading Advertising
- T-Mobile US gained about a one-year lead in 5G service on rivals AT&T Inc (NYSE:T) and Verizon Communications Inc (NYSE:VZ) thanks to a trove of mid-band airwaves acquired with the takeover of Sprint Corp in April 2020.
- “Because of the network we built, we’ve been able to attract a tremendously high amount of prime customers,” the report cited T-Mobile CFO Peter Osvaldik.
- T-Mobile US reported a third-quarter FY22 revenue decline of 0.7% year-on-year to $19.48 billion, missing the consensus of $20.02 billion. EPS of $0.40 missed the consensus of $0.68.
- T-Mobile added 394 thousand postpaid net accounts and 1.6 million postpaid net customer additions, more than AT&T and Verizon combined and the highest in company history.
- Price Action: TMUS shares closed higher by 0.66% at $139.96 on Wednesday.
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