T-Mobile US Inc. reported new monthly mobile-phone subscribers that exceeded analyst estimates, joining its peers in wooing new customers in the second quarter.
T-Mobile shares gained 2.7% in premarket trading Wednesday.
The Bellevue, Washington-based carrier reported a net 777,000 additional monthly phone subscribers, the company said in a statement Wednesday. Analysts were expecting 645,300, according to data compiled by Bloomberg. T-Mobile raised its forecast for mobile subscribers this year to between 5.4 million and 5.7 million, from as much as 5.6 million previously.
Wireless service revenue grew 4% from a year earlier to $16.4 billion, beating analysts’ estimates of $16.3 billion after T-Mobile increased prices on some of its plans for the first time in nearly a decade.
Verizon Communications Inc., the No. 1 wireless carrier in the US, reported last week that it added 148,000 monthly mobile phone customers in the second quarter, beating estimates. AT&T Inc. also surprised the market with 419,000 subscriber additions.
T-Mobile reported 406,000 new subscribers to its high-speed internet offerings, including fixed wireless and fiber, beating analyst expectations of 400,700. Analysts were skeptical of broadbrand growth in the second quarter after the Affordable Connectivity Program, which provided low-income households a $30 monthly discount toward home internet service, expired in June.
Total revenue was $19.8 billion, slightly above analysts’ estimates of $19.6 billion. Earnings per share were $2.49.
T-Mobile shares have gained 9.4% this year, while AT&T was up 13% and Verizon, 6.2%.
