T-Mobile US announced earnings per share of 55 cents on revenue of $19.62 billion. Analysts polled by Investing.com anticipated EPS of 48 cents on revenue of $20.2 billion.
T-Mobile US shares are down 23% from the beginning of the year, still down 22.90% from its 52 week high of $150.20 set on July 16. They are under-performing the S&P 500 which is up 23.31% from the start of the year.
The mobile communications company reported record-high service revenues of $14.7 billion during the quarter, representing more than 4% growth year-over-year. It includes the company’s Postpaid service revenues growth of 6% year-over-year.
In addition, its Extended Range 5G now covers 308 million people and 1.7 million square miles, which it claims is the most available 5G network in the world.
The company’s CEO, Mike Sievert was thrilled with the earnings beat, stating: “Another quarter of amazing results shows that customers love T-Mobile’s unique combination of the best value, best network and best experience.”
“With our Magenta business firing on all cylinders and our Sprint integration ahead of schedule, we are well positioned for the future — and poised to continue winning with assets and a formula for growth that is differentiated from the other wireless players. We just keep exceeding our own targets on growth, profit and synergies — and we have no plans to slow down now,” he added.
Looking ahead, T-Mobile said postpaid net customer additions for 2021 are expected to be between 5.1 million and 5.3 million, an increase from previous guidance of 5.0 million to 5.3 million. Meanwhile, Core Adjusted EBITDA, which is Adjusted EBITDA minus lease revenues, is expected to be between $23.4 billion and $23.5 billion, above the $23.0 billion to $23.3 billion previously set.
T-Mobile US shares have gained 1.6% in after-hours trade following the report.
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