BELLEVUE, Wash. - T-Mobile US, Inc. (NASDAQ:TMUS) reported third-quarter earnings that surpassed analyst expectations and raised its full-year guidance, sending its stock up 3% in response to the positive results.
The telecommunications giant posted adjusted earnings per share of $2.61, beating the analyst estimate of $2.43 by $0.18. Revenue for the quarter came in at $20.16 billion, exceeding the consensus estimate of $20.01 billion.
T-Mobile achieved its highest third-quarter postpaid phone net customer additions in a decade, gaining 865,000 new subscribers. The company also reported its lowest third-quarter postpaid phone churn rate in its history at 0.86%.
"Delivering another quarter of industry-leading results, including our best Q3 postpaid phone net adds in a decade and record low Q3 churn, translated into outsized financial results and empowered us to raise our 2024 guidance yet again," said Mike Sievert, CEO of T-Mobile.
The company boosted its full-year guidance across several key metrics. T-Mobile now expects postpaid net customer additions of 5.6 million to 5.8 million, up from its previous forecast of 5.4 million to 5.7 million. Core Adjusted EBITDA is projected to be between $31.6 billion and $31.8 billion, while adjusted free cash flow is anticipated to range from $16.7 billion to $17 billion.
T-Mobile's service revenues grew 5% YoY to $16.7 billion, with postpaid service revenues increasing 8% to $13.3 billion. The company also reached a milestone of 6 million broadband customers during the quarter.
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