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T-Mobile Reaches 100 Million Subscriber Mark in Big Q3 Earnings Beat

T-Mobile Reaches 100 Million Subscriber Mark in Big Q3 Earnings Beat

The “uncarrier” mobile company hit another landmark following its $20 billion acquisition of Sprint, partially due to COVID-19 pandemic.

The “uncarrier” mobile company hit another landmark following its $20 billion acquisition of Sprint, partially due to COVID-19 pandemic.

Credit | T-Mobile

Thursday afternoon, T-Mobile announced their quarter 3 earnings reports, revealing some extremely promising and exceptional results. The self-named uncarrier is continuing to grow at a remarkable place, following years of downfall for the company.

The company, now the nation’s second largest wireless carrier, announced that it had crossed the 100 million subscriber mark, now boasting a 100.4 million count.

Earnings were also beat across the board, following a Yahoo Finance expected earnings per share (EPS) of 43 cents, and expected revenues of $18.34 billion. T-Mobile reported EPS of $1 on revenues of $19.3 billion. This shows a 133% surprise on EPS and a 5% surprise on revenues.

This boosted the company’s stock price by up to 8% after-hours.

T-Mobile said it added just over 2 million new customers for the quarter, with 1.98 million being postpaid net additions. Postpaid net additions are a large part of a wireless carrier’s numbers, with it being a key metric.

Also covered by the quarterly report was the announcement that the company’s low-band nationwide 5G network is now available/covers 270 million people, with the faster mid-band network covering 30 million people.

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Thursday’s results continue T-Mobile’s climbing growth throughout the wireless carrier ranks, with previous news following T-Mobile becoming the number 2 carrier in the US. After passing AT&T in the 2nd quarter, T-Mobile has grown steadily, with both resulting heavily from T-Mobile’s merger with Sprint Wireless earlier this year.

With the merger having been closed in April, T-Mobile states that 15% of traffic on Sprint’s network has been moved to T-Mobile’s.

This positive earnings report follows T-Mobile’s reach into new markets and an expanding region.

On Sunday, the company completely overhauled their TVision service to focus on streaming, though cable and channel partners have met this decision with criticism, due to no earlier announcements.

T-Mobile also was hit with a $200 million fine due to Sprint’s alleged involvement into abuses of a federal program for low-income citizens.

These earnings also come after T-Mobile’s recent planning for the release of Apple’s 5G iPhone 12 line, which are available for preorder, with the line arriving on sale on November 13th. T-Mobile announced new offers for these devices, following similar deals from AT&T and Verizon, which offer new iPhones for lowered monthly costs.

Q4 estimates from the company were announced as well, with an expected 600,000 to 700,000 new postpaid phone customers added this quarter.

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