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T-Mobile US
Inc.
TMUS -1.53%
signed up more of the flagship brand of the third quarter, outpacing rivals the carrier continues its pursuit of a merger
Sprint
Corp.
S -1.22%
T-Mobile ended the period with 774,000 more postpaid phone customers. Verizon Communications Inc. added 295,000 more postpaid phone connections in the same period, while AT & T Inc. netted 69,000 more subscribers in this category.
At the same time, T-Mobile's net prepaid customer additions slowed to 35,000, well below the 226,000 gain it reported in the same period a year ago. MetroPCS prepaid business. The company recently rebranded the "Metro by T-Mobile" service to emphasize the connection to its parent company.
The company's overall subscriber base reached 62.2 million, excluding customers of other companies that use T-Mobile's network.
Shares of T-Mobile fell 1.5% to $ 63.92 Tuesday afternoon.
Leaders of the country's third-largest wireless company has been building a smaller market for more than $ 26 billion. The combination would leave the national carriers of the market, though T-Mobile representatives would have said cable providers and other nontraditional competitors could check their market power.
Both companies have the merger deal, but their plans would leave T-Mobile executives firmly in charge. The new entity would wind down Sprint's network to boost overall wireless capacity. T-Mobile chief John Legere would run the combined company.
T-Mobile's stronger results could be the company's argument that its management is the best equipped to compete with larger rivals Verizon and AT & T. Sprint, meanwhile, has had its weaker financial performance in recent filings with the Federal Communications Commission.
In the three months that ended Sept. 30, T-Mobile's overall profit hit $ 795 million, or 93 cents a share, up from $ 537 million, or 63 cents, a year earlier. Revenue climbed 8.2% to $ 10.84 billion.
Changes in how T-Mobile recognizes revenue by $ 101 million. The company also gained $ 88 million in insurance costs, but the company was going to be hit hard by the storm. The company recorded $ 53 million of costs related to the Sprint deal.
The results came from the United States of America in the U.S. wireless industry. Relatively few Americans connected during the first six months of 2018, though there are signs that the market is becoming more turbulent, especially among prepaid service providers.
Monthly churn, the percentage of customers in the quarter, hit 1.02% among postpaid phone customers, up from the previous quarter 0.95%, a record low. Prepaid churn reaches 4.12%, up from 3.81% in the prior quarter.
Write to Drew FitzGerald at [email protected]
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