T-Mobile US, Inc TMUS reported third-quarter profits that beat estimates, courtesy of better-than-expected mobile customer gains.
The leading wireless carrier added 850,000 postpaid mobile phone customers in the quarter, relatively flat year-over-year, beating analysts’ estimates of 780,400.
In June, T-Mobile reported adding 760,000 mobile phone customers, marking its best second quarter in eight years, Bloomberg reports.
It added 557,000 wireless home internet customers (decreased 21 thousand Y/Y) above the consensus of 486,700.
Total net customer additions of 1.3 million decreased 427 thousand Y/Y.
The company reported Q3 revenue of $19.25 billion, missing the consensus of $19.32 billion. EPS of $1.82 beat the consensus of $1.74.
Service revenues of $15.9 billion grew 4% Y/Y, and Postpaid service revenues of $12.3 billion increased 6% Y/Y.
Adjusted free cash flow of $4.0 billion increased 94% Y/Y.
Guidance Hike: T-Mobile expects postpaid net customer additions of 5.7 million - 5.9 million (prior guidance of 5.6 million - 5.9 million).
The company expects adjusted free cash flow of $13.4 billion - $13.6 billion (prior guidance of $13.2 billion - $13.6 billion).
Merger synergies are likely to be approximately $7.5 billion.
Price Action: TMUS shares traded higher by 2.03% at $143.95 premarket on the last check Wednesday.
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