T-Mobile U.S. posted better-than-expected fourth quarter earnings Thursday as it added over 1 million new customers to its post-paid wireless network.
T-Mobile said earnings for the three months ending in December were pegged at 75 cents per share, firmly ahead of the Street forecast of 69 cents. Total group revenues rose 5.5% from last year to $11.4 billion, the company said, matching analysts’ forecasts. The third-largest U.S. wireless carrier also said it added 1.02 million new subscribers over the quarter, up 12.2% from last year and firmly ahead of the FactSet-complied forecast of 912,000.
“This never gets old! T-Mobile finished another year with record breaking financials and our best-ever customer growth! Record revenues, strong net income, record Adjusted EBITDA, our lowest-ever Q4 postpaid phone churn that was better than AT&T for the very first time!” said CEO John Legere. “T-Mobile is competing hard and winning customers – and we continue to deliver results beyond expectations. Our 2019 guidance shows that we expect our incredible standalone momentum to continue!”
T-Mobile shares rose 2% to close at $68.28 in Thursday’s trading, leaving the stock’s three-month decline at about 4%.
T-Mobile U.S., which is attempting to get regulatory approval from the U.S. Federal Communications Commission for its $26 billion takeover of rival Sprint (S – Get Report) , said it will add between 2.6 million to 3.6 million net new post-paid subscribers this year even if the deal doesn’t go through.