T-Mobile Tops Revenue Estimates, Raises Forecast for Subscribers

(Bloomberg) -- T-Mobile US Inc. surpassed Wall Street sales estimates for the second quarter, and raised its forecast for subscriber growth, showing the benefits of the carrier’s lead in 5G capacity over Verizon Communications Inc. and AT&T Inc.

• The second-largest U.S. wireless carrier added 1.3 million regular monthly subscribers in the quarter, including 627,000 new phone customers, according to a statement Thursday. Analysts predicted a total gain of 873,000. In comparison, AT&T added 1.16 million subscribers during the same period, promoting free-phone offers to boost sign-ups.
• T-Mobile also raised its full-year subscriber growth forecast to as many as 5.3 million, up from 4.9 million in its previous outlook, according to the statement.
• See more details.

Key Insights

Market Reaction

• T-Mobile was little changed at $144.55 in extended trading Thursday. The stock is up more than 7% this year, compared with a 1.6% decline for AT&T and nearly a 5% drop for Verizon.

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• Read the statement.
• See T-Mobile earnings surprises.

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