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T-Mobile
shares are losing ground late Thursday after the mobile carrier announced mixed second quarter results.
For the June quarter, T-Mobile (TMUS) reported revenue of $19.2 billion, down 2.6% from a year ago, and a little shy of the Wall Street consensus forecast for $19.3 billion. Profits in the quarter topped estimates though, at $1.86 a share, ahead of Wall Street at $1.69 a share.
T-Mobile said it had 760,000 postpaid phone net subscriber additions in the quarter, ahead of analysts’ consensus forecast for 728,000. The company said it was the best second-quarter increase in eight years. By contrast,
Verizon
added 8,000 net new postpaid phone users in the quarter. AT&T added 326,000 postpaid phone subscribers.
T-Mobile added 509,000 high-speed internet customers, above the consensus at 480,000.
Adjusted Ebitda, or earnings before interest, taxes, depreciation, and amortization, was $7.3 billion, up 11% from a year ago, in line with estimates. T-Mobile said it bought back 25.2 million shares in the quarter for $3.5 billion.
“If you were wondering how T-Mobile would perform if growth in our category moderated, I think you’ll find the answer in our latest results,” T-Mobile CEO Mike Sievert said in a statement. “We’ve set audacious goals and delivered a durable and differentiated plan that is working just as we said it would.
The company inched up its full-year guidance. T-Mobile now sees postpaid net customer additions of between 5.6 million and 5.9 million, up from 5.3 million to 5.7 million. Core Adjusted Ebitda is now expected to be between $28.9 billion and $29.2 billion, slightly narrowing the range from a previous forecast of $28.8 billion to $29.2 billion.
T-Mobile shares are down 2% in late trading.
Write to Eric J. Savitz at [email protected]
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