Categories AlphaGraphs, Earnings, LATEST, Technology

T-Mobile stock rises on upbeat earnings and subscriber adds

T-Mobile US (TMUS) reported Q2 earnings and wireless customer additions that both topped analysts’ views. The company reported its quarterly results for the second time after it announced a merger deal worth $26.5 billion with Sprint (S). Revenue was up 4% to $10.6 billion and profit per share surged 37% to $0.92. Shares of T-Mobile rose 1.5% in late trading.

For the quarter ended June 30, 2018, the telecom company added 1.6 million total customers, including 686,000 branded postpaid phone customers. The year-over-year increase in branded postpaid phone customer additions was aided by continued growth in existing and Greenfield markets, the growing success of new customer segments namely, T-Mobile for Business, T-Mobile ONE Unlimited 55+ and T-Mobile ONE Military, along with record-low churn.

For 2018, T-Mobile lifted its outlook for the postpaid net customer additions to a range of 3.0 million to 3.6 million compared to the prior target of 2.6 million to 3.3 million. The company expects branded postpaid phone ARPU in full-year 2018 will be generally stable compared to full-year 2017, excluding the impact from the new revenue standard.

T-Mobile second quarter earnings infograph

Just two days back, T-Mobile entered into a $3.5 billion deal with Nokia to build its 5G network. This deal will help the Bellevue, Washington-based company to compete with rivals AT&T (T) and Verizon (V).

Before the bell, Sprint reported its first-quarter earnings results which beat the consensus view. However, the T-Mobile merger outweighed Sprint’s results and the stock traded down about 1% when the market ended today.

Related: Sprint first quarter earnings

The proposed Sprint transaction is expected to close in first half of 2019, subject to regulatory approvals. On July 18, 2018, the FCC issued a Public Notice formally accepting T-Mobile’s applications for approval of the proposed deal and the Commission established a period for public comment.

T-Mobile stock dropped 1.07% to $59.36 at the end of today’s regular trading session. Shares of the telecom operator have dropped about 6.5% so far in this year and about 6% over the past year.

Related: A glance at T-Mobile-Sprint merger

 

Most Popular

HPE Earnings: Hewlett Packard Q1 2024 profit drops but beats Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) on Thursday reported lower earnings and revenues for the first quarter of 2024. Earnings, however, exceeded analysts’ forecasts. First-quarter profit, excluding

After entering FY24 on a high note, Costco is all set to report Q2 results

Costco Wholesale Corporation (NASDAQ: COST) stands out in the retail space for its unique business model that enables the warehouse behemoth to grow store traffic and market share constantly. Currently,

Hormel (HRL) expects continued momentum from its foodservice business in FY2024

Shares of Hormel Foods Corporation (NYSE: HRL) soared over 13% on Thursday after the company delivered better-than-expected earnings results for the first quarter of 2024 and reaffirmed its outlook for

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top