, the country’s second-largest wireless provider and still the most innovative and influential, announced its second-quarter results this morning. While the bottom line showed red ink (a loss) at a cost of $108 million or 9 cents per share, the numbers were impacted by costs of $1.9 billion or $1.52 per share (after tax) in connection with mergers and acquisitions. Excluding those costs, the company made $1.43 per share during the period.
The adjusted $1.43 beat Wall Street’s expectations of 41 cents a share, estimated by 11 analysts. The company also reported a net increase of 723,000 postpaid phone customers, and for the first time, T-Mobile had lower churn in that category than Verizon. Churn, usually expressed as a percentage, measures the number of subscribers who leave one provider to sign up with another.
The carrier also announced it added 380,000 net new postpaid accounts in the second quarter, the largest number in the industry and a quarter-on-quarter record in T-Mobile history. Those net new accounts helped add 1.7 million net customer additions, which was more than AT&T and Verizon combined. It was also the best second quarter for this metric in T-Mobile history.
87% of the US is covered by T-Mobile’s faster mid-band Ultra Capacity 5G signals
Mike Sievert, CEO of T-Mobile, said: “Our relentless focus on putting customers first delivered another outstanding quarter for T-Mobile with industry-leading postpaid and broadband customer growth, including our highest-ever postpaid account additions in the company’s history. This momentum fueled our growth strategy and allowed us to once again increase guidance across the board – further proof that our commitment to addressing customer pain points in this challenging macroeconomic environment, works.”
During the second quarter, T-Mobile generated revenue of $19.7 billion, which fell below the $20.16 billion estimated by 10 Wall Street analysts. Speaking of the stock market, investors loved the report for sending the stock $5.17 or 3.86% to $139.08. The 52-week high is $146.92 and the 52-week low is 101.51.
At the end of the quarter, T-Mobile’s 600MHz low-band 5G signal covered 97% of the US population, or 320 million people. The carrier’s mid-band Ultra Capacity 5G now reaches 87% of Americans, representing 235 million people. This mid-band service uses the 2.5 GHz mid-band spectrum obtained from the Sprint acquisition and delivers an average download speed of 400 Mbps with peak speeds of up to 1 Gbps.