T-Mobile beats second-quarter postpaid subscriber estimates By Reuters

T-Mobile beats second-quarter postpaid subscriber estimates By Reuters


© Reuters. A T-Mobile store is pictured in the Brooklyn borough of in New York

(Reuters) – T-Mobile US (NASDAQ:) Inc said on Thursday it added more monthly bill paying phone subscribers than expected in the second quarter, as more people used its services to stay connected and work remotely during coronavirus lockdowns.

The U.S. wireless carrier’s shares rose 2% in extended trading.

T-Mobile has sought to attract budget-constrained customers with its cheaper phone plans after the pandemic left millions of people in the United States unemployed.

It added 253,000 net new phone subscribers who pay a monthly bill, compared with 710,000 additions a year earlier.

Analysts had expected 169,200 new subscribers, according to research firm FactSet. 

T-Mobile’s second-quarter net income fell to $110 million, or 9 cents per share, from $939 million, or $1.09 per share, a year earlier.

Revenue jumped 61% to $17.67 billion, above analysts’ estimates of $17.61 billion, according to IBES data from Refinitiv.

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