T-Mobile Reports Record Financials and Strong Customer Growth in FY 2019

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T-Mobile announced last night at deadline their annual earnings saying they were “beating increased guidance while balancing growth and profitability.” In Q4 2019, there were total net additions of 1.9M, branded postpaid phone net additions of 1.0M, record service revenues of $8.7B, strong Q4 net income of $751M and record Q4 adj. EBITDA of $3.2B.

The highlights of their report were:

  • 1.9 million total net additions in Q4 2019 – 7.0 million in 2019 – 6th year in a row of more than 5 million total net additions
  • 1.3 million branded postpaid net additions in Q4 2019, best in industry – 4.5 million in 2019, best in industry
  • 1.0 million branded postpaid phone net additions in Q4 2019, best in industry – 3.1 million in 2019, best in industry
  • 77,000 branded prepaid net additions in Q4 2019 – 339,000 in 2019
  • Branded postpaid phone churn of 1.01% in Q4 2019, up 2 bps YoY – 0.89% in 2019, down 12 bps from 2018
  • Launched the first nationwide 5G network utilizing 600 MHz spectrum, forming the foundational 5G coverage layer for New T-Mobile; network covers more than 200 million people and more than 5,000 cities and towns
  • 4G LTE on 600 MHz now covers 248 million people and 1.5 million square miles
  • Currently, more than 33 million 600 MHz compatible devices already on our network

Total net customer additions were 1.9 million in Q4 2019, bringing total customer count to 86.0 million, and marking the 27th straight quarter in which T-Mobile generated more than 1 million total net customer additions. For full-year 2019, total net customer additions were 7.0 million, marking the sixth year in a row of more than 5 million total net customer additions.

According to the carrier, highlights from Q4 2019 include:

  • “Nationwide 5G: In December 2019, T-Mobile launched America’s first nationwide 5G network, including prepaid 5G with Metro by T-Mobile, covering more than 200 million people and more than 5,000 cities and towns across the United States with 5G. In addition, we introduced two new 600 MHz 5G capable superphones, the exclusive OnePlus 7T Pro 5G McLaren and the Samsung Galaxy Note10+ 5G and anticipate offering an industry-leading smartphone portfolio built to work on nationwide 5G in 2020. This 5G network is our foundational layer of 5G coverage on 600 MHz low-band spectrum and this is just the beginning! T-Mobile’s 5G covers more than 60% of the population across more than 1 million square miles. T-Mobile’s 5G network works indoors and is available to anyone with a capable device. We have also rolled out 5G on millimeter wave (mmWave) spectrum in parts of 7 cities, including New York and most recently Miami.
  • Deployment of 600 MHz spectrum: At the end of Q4 2019, T-Mobile owned a nationwide average of 31 MHz of 600 MHz low-band spectrum. As of December 31, 2019, we had cleared 275 million POPs and we expect to clear the remaining 600 MHz POPs in 2020. T-Mobile continues its deployment of 4G LTE on 600 MHz spectrum, using 5G-ready equipment, with 1.5 million square miles already lit up, covering 248 million POPs in nearly 8,900 cities and towns in 49 states and Puerto Rico. Combining 600 MHz spectrum and 700 MHz spectrum, we have deployed low-band spectrum to 316 million POPs. Currently, more than 33 million devices on T-Mobile’s network are compatible with 600 MHz spectrum.”

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