T-Mobile adds more net new postpaid phone subscribers in Q3 than AT&T and Verizon combined

T-Mobile adds more net new postpaid phone subscribers in Q3 than AT&T and Verizon combined،

T-Mobile reported its third quarter results this morning and the carrier continues to benefit from the momentum needed to report results better than the rest of the industry. Net new postpaid phone subscribers, the industry’s most important metric, increased by 850,000, flat from the number posted in the same quarter last year. Still, that number overwhelmed the 468,000 net new postpaid phone subscribers added by AT&T and the 100,000 net new consumer and business postpaid phone subscribers added by Verizon over the three months.

Not only were net new postpaid phone additions in the third quarter the best in the industry, postpaid phone churn improved by one basis point year-over-year to 0.87%, a record high For TMobile during any third trimester. Prepaid net new additions were 79,000 in the quarter, down 24.8% from the same quarter of 2022. Prepaid churn, at 2.81%, was lower by 7 basis points compared to the third quarter of last year. Due to the nature of prepaid wireless, more customers are likely to switch from their current provider to a new one than postpaid customers.

T-Mobile Had Another Strong Quarter: T-Mobile Adds More Net New Postpaid Phone Subscribers in Q3 Than AT&T and Verizon Combined

T-Mobile had another good quarter

TMobile now has a company record 117.9 million subscribers. That’s up 5.5% from the 111.8 million subscribers the company had in the same quarter last year. Revenue of $19.3 billion for the quarter was down 1.2% year-over-year. At $2.14 billion, net income increased 321.7% from the $508 million reported in the third quarter of last year. Diluted earnings per share were $1.82 compared to 40 cents per share a year ago. TMobile5G Ultra Capacity, combining its medium and high band services, now covers 300 million people. Total 5G coverage now reaches 330 million people, or 98% of Americans.

TMobile CEO Mike Sievert had this to say about the report: “I’ve said it before and I’ll say it again: in this competitive environment, only TMobile can deliver the type of exceptional results we saw in the third quarter because only we can consistently deliver the best network and best combination of value that customers want. The best customer and financial growth this quarter,
including our industry-leading net additions of postpaid customers AND accounts and our highest cash flow in Un-carrier history, paint a clear picture of a sustainable, differentiated strategy that is working.

Sievert added: “Our unrivaled offering is attracting more and more consumers and businesses to Un-carrier, including, for the first time, the highest share of postpaid services.
switches in small markets and rural areas. At the same time, we are generating significant shareholder value that will propel us into a future where we have ample room to maneuver. »

The report originally sent TMobile shares rose more than $2 before sellers came in (thanks to Alphabet’s decline) and wiped out the gains and more. The stock ended the regular trading session at $140.99, a loss of 8 cents or 0.057%.