T-Mobile has been showing a continuous growth both in terms of its network and also in terms of the number of customers who are joining the uncarrier’s network. On Wednesday, July 19, the company released its second quarterly earnings report after the markets closed for the day. The report revealed that the carrier had managed to outdo what the Wall Street analysts had predicted previously and by a fair amount as well.
Q2 results
Analysts had predicted that at the end of the second quarter, T-Mobile would most likely add 807,000 new customers to its database.
On Wednesday, the company revealed that it had instead been successful in adding 1.33 million new subscribers to its network during the second quarter. It also reported that during that same time the postpaid churn was at an all time low of 1.10 percent, which means that it is 17 points down from last year. The reduced postpaid churn led to an eight-point difference from the previous quarter.
T-Mobile’s report also revealed that within the last three months the company had managed to add 786,000 new postpaid customers to its network. This is even more impressive when considering that this high number of additions represent 100 percent of the growth seen in the post paid sector in the second quarter.
This means that in the second quarter all of the post paid customers to join a carrier, subscribed to T-Mobile’s network.
This is also the 16th time that T-Mobile will lead the U.S. carriers when it comes to growth over the last 17 quarters. The company’s net revenue now stands at $10.2 billion which is a 10 percent growth for the Fiscal Year.
Net income for T-Mobile was reported to be $581 million which is a 158 percent increase year-over-year. Diluted earnings per share also showed an increase of 168 percent over last year and rested at 67 cents a share.
Impressive statistics of growth for T-Mobile
The company reported that at the end of the second quarter, nearly 315 million American people used its network in some form or another.
This number is expected to hit 321 million by the end of the fiscal year. T-Mobile stated that it has finished installing its 700MHz spectrum and that this covers almost 271 million of the network’s users across 575 markets.
However, the company is currently working on installing the 600MHz spectrum in some markets and will be completing these by as early as August. The low frequency spectrum is better because of higher ones as they can travel farther and can penetrate buildings and other closed off places. It now remains to be seen whether T-Mobile can continue its growth.
