T-Mobile Tops Wall Street Estimates for Core Subscribers, Matching Peers -- WSJ

Dow Jones04-26

By Ben Glickman

T-Mobile added more core phone customers than Wall Street expected, making it the third telecom company to surpass expectations with first-quarter performance.

The company also lifted its full-year outlook for net adds of its postpaid subscribers, suggesting a rosier forecast for its core business.

The companys first-quarter results were otherwise mixed. Sales came in below analyst forecasts, while profit exceeded expectations.

The carrier added 532,000 postpaid phone customers on net in the first quarter, topping the 477,500 expected by analysts polled by FactSet.

T-Mobiles competitors have also posted core adds ahead of Wall Street expectations, with AT&T adding nearly 350,000 postpaid phone connections in the first quarter. Verizon lost 68,000 postpaid phone subscribers on net in the same period, but analysts were expecting a steeper loss.

Here are more details from T-Mobiles quarterly report:

-- Revenue came in at $19.59 billion, down slightly from a year ago and below analyst expectations of $19.83 billion

-- Profit rose about 22% to $2.37 billion, or $2 a share. Analysts expected $1.86 a share.

T-Mobile now expects 5.2 million to 5.6 million postpaid net customer addition for the year, compared with its previous outlook of 5 million to 5.5 million.

The stock was recently up 0.7% in late trading after finishing the day little-changed.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 25, 2024 16:22 ET (20:22 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Sales came in below analyst forecasts, while profit exceeded expectations. \n\n\n     The carrier added 532,000 postpaid phone customers on net in the first quarter, topping the 477,500 expected by analysts polled by FactSet. \n\n\n     T-Mobiles competitors have also posted core adds ahead of Wall Street expectations, with AT&T adding nearly 350,000 postpaid phone connections in the first quarter. Verizon lost 68,000 postpaid phone subscribers on net in the same period, but analysts were expecting a steeper loss. \n\n\n     Here are more details from T-Mobiles quarterly report: \n\n\n     -- Revenue came in at $19.59 billion, down slightly from a year ago and below analyst expectations of $19.83 billion \n\n\n     -- Profit rose about 22% to $2.37 billion, or $2 a share. 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