Why T-Mobile's Stock Is Trading Higher Today
T-Mobile US (NASDAQ:TMUS) shares are trading higher after the company reported better-than-expected first-quarter EPS and sales results and raised FY2021 guidance.
"We just keep pushing further ahead of the competition. Our network leadership is fueling customer momentum, delivering merger synergies and expanding our addressable markets for growth. We have so much confidence that we are raising 2021 guidance just one quarter into the year," said Mike Sievert, CEO of T-Mobile.
Deutsche Telekom merged its T-Mobile USA unit with prepaid specialist MetroPCS in 2013, creating T-Mobile US. Following the merger, the firm provided nationwide service in major markets but spottier coverage elsewhere.
The stock was trading 3.20% higher at $132.58 at the time of writing. The stock has a 52-week high of $135.54 and a 52-week low of $86.41.
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