Investing.com – Shares of T-mobile dipped in after-hours trade on Monday, despite the release of a better than expected quarterly earnings report.
T-Mobile US Inc (NASDAQ:TMUS) said on Monday, it added more subscribers than expected in the first quarter, as an increase in promotional offers helped the wireless carrier ramp-up customer acquisition growth.
Compared to the same period last year, net income rose to $698 million, or 80 cents per share, from $470 million, or 56 cents per share.
T-mobile added 914,000 postpaid subscribers, which was well above analysts’ expectations of 847,000 subscribers.
Postpaid phone customer growth, represents the most lucrative segment of the sector.
Meanwhile, the wireless carrier outlined bullish forward guidance for 2017 – branded postpaid net additions are expected in the range of 2.8 million to 3.5 million, from 2.4 million to 3.4 million previously.
Shares of T-mobile closed at $65.93, up 1.9% but dipped to $65.40 in after-hours trade.