T-Mobile crushes Q3 EPS, adds 2 million new customers

T-Mobile says it now has more than 69 million total customers.T-Mobile’s continued customer growth lifted third quarter EPS well above estimates, but the company’s total revenue fell short.

The nation’s No. 3 wireless carrier said it added 2 million new subscribers to its network during Q3, marking the 14th consecutive quarter it delivered more than one million net adds. T-Mobile says it now has more than 69 million total customers.

Breaking that number down, T-Mobile said it added 851,000 postpaid accounts, which are the most lucrative category of wireless subscribers, and 969,000 total monthly subscribers.

The carrier credited the new additions to the introduction of the T-Mobile ONE plans and the launch of the iPhone 7 in September.

Churn for T-Mobile’s branded postpaid accounts was 1.32 percent, up slightly from 1.27 percent in the second quarter. The carrier has said previously it expects branded postpaid customer growth to slow this year.

As for the rest of the numbers, the company reported Q3 net income of $366 million, or 42 cents per share, up from $138 million, or 15 cents per share, a year earlier.

Total revenue was $9.2 billion, up 18 percent year-over-year.

Wall Street was looking for earnings of 22 cents a share on revenue of $9.42 billion.

Source: ZD Net

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