T-Mobile Touts “Strongest Q2 Customer Growth in Years”

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T-Mobile announced their Q2 earnings yesterday afternoon while still waiting to hear confirmation from the DOJ on the merger with Sprint. At deadline, sources at the Wall Street Journal were saying the merger announcement was delayed while the Justice Department is, “negotiating with opposing states to get them on board a settlement allowing T-Mobile and Sprint to sell assets to Dish Network to enable a $26.5B combo of the two wireless carriers.” T-Mobile made the following statement regarding their earnings:

“The T-Mobile team of rock stars delivers quarter, after quarter, after quarter!” said John Legere, CEO of T-Mobile. “Record-low customer churn and our best Q2 customer numbers in years. This is in addition to record service revenue, record Q2 net income, and record Adjusted EBITDA,” he said. “We continue to build out our nationwide 5G network with an aggressive deployment of 600 MHz on 5G equipment and increase our spectrum portfolio through an incredibly successful FCC auction – investing $842 million which more than quadruples our mmWave holdings. Our momentum continues and we won’t stop!” Legere said.

Highlights include:

  • Record-Low Churn and Record Financial Results
  • Record-Low Postpaid Phone Churn of 0.78%
  • Record Service Revenues of $8.4B
  • Record Q2 Net Income of $939M
  • Record Adjusted EBITDA of $3.5B
  • Total Net Customer Additions of 1.8M
  • Aggressive deployment of 600 MHz using 5G-ready equipment
  • 4G LTE on 600 MHz now covering 156 million people and 1.2 million square miles
  • 5G millimeter wave (mmWave) network introduced in six cities including New York and Los Angeles
  • Successful participation in mmWave auctions; average nationwide mmWave spectrum position more than quadrupled

July 26, 2019

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