T-Mobile US on Wednesday reported second-quarter earnings and revenue that topped consensus estimates. The wireless services provider added more high-spending phone subscribers than expected, sending T-Mobile stock up.
Controlled by Deutsche Telekom, T-Mobile earnings came in before the market open.
T-Mobile earnings for the quarter ending June 30 rose 34% to $2.49 per share on an adjusted basis. Further, the wireless services provider said revenue rose 3% to 19.77 billion.
Analysts polled by FactSet expected T-Mobile to report adjusted earnings of $2.28 a share on revenue of $19.6 billion.
T-Mobile Stock: Subscriber Additions
Also, T-Mobile said it added 770,000 postpaid phone subscribers vs. estimates of 642,000. That topped AT&T, which added 419,000, and Verizon Communications. It added 148,000.
In addition, T-Mobile said Q2 EBITDA — earnings before interest, taxes, depreciation and amortization — rose 9% to $8 billion, slightly below estimates of $8.05 billion.
On the stock market today, T-Mobile stock climbed 4% to close at 182.28.
In Q2, T-Mobile said it added 406,000 5G broadband customers vs. 509,000 in the year-earlier period.
Heading into the T-Mobile earnings report, shares had gained 9% in 2024.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
