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T-Mobile United States (TMUS) reported higher June quarter earnings and revenue than analysts estimates, but wireless service provider added fewer postpaid phone subscribers than rival AT&T (T). T-Mobile stock fell on the news.
Controlled by Deutsche Telekom (DTEGY), T-Mobile said Thursday night that adjusted second-quarter profit rose 765% to 78 cents per share from a year earlier.
In T-Mobile’s earnings report, the company said its revenue rose 13% to $ 20 billion, boosted by its merger with Sprint.
Analysts expected T-Mobile to report adjusted earnings of 53 cents per share on revenue of $ 19.37 billion. In the prior year period, T-Mobile earned 9 cents a share on revenue of $ 17.7 billion.
T-Mobile said it added 627,000 postpaid phone subscribers up from 253,000 a year earlier. Analysts had estimated 595,000 additions to postpaid telephone subscribers. But AT&T said on July 22 it added 789,000 postpaid telephone subscribers in the June quarter. T-Mobile has claimed the title of most postpaid subscriber additions for several years.
T-Mobile stock: a measure of profit exceeds estimates
For the quarter, T-Mobile said earnings before interest, taxes, depreciation, and amortization, also known as EBITDA, was $ 6.9 billion against estimates of $ 6.68 billion. .
T-Mobile stock fell 1.8% to nearly 142 when trading after hours in the stock market today. TMUS stock is trading above a buy zone from a flat base entry point of 135.64.
A third of Sprint’s customers have moved to the T-Mobile network, the company said.
T-Mobile stock has a relative strength rating of 69 out of 99.
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