T-Mobile is flourishing, with more customers than expected flocking to it
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While internet forums may be filled to the brim with comments about how T-Mobile customers are not happy with its decision to hike prices on legacy plans and how the carrier is no longer the unconventional company it promised to be, the telecom operator is doing pretty good financially and in terms of customer addition.
T-Mobile today released its financials for Q2 2024 and it was an all-around good quarter for the company.
The company added 1.3 million new postpaid subscribers, which is more than what its rivals managed. Out of these, 777,000 were phone customers, which again is an industry-leading figure.
The company added more new postpaid phone customers during the second quarter of 2024 than in any previous Q2, which is quite an achievement, considering all the bad press around the company in recent months due to a string of unpopular moves. It also performed better than what analysts had expected.
T-Mobile got 406,000 new internet customers during the quarter, more than any other company in the industry. In addition to providing 5G home internet services, the company also offers fiber solutions in some markets and is growing its footprint with acquisitions. It recently expressed the desire to buy Metronet through a joint venture. Before that, it said it wanted to acquire Lumos through a similar arrangement.
T-Mobile generated industry-leading net income of $2.9 billion during Q2 2024, up 32 percent when compared to the year-ago quarter. Wireless service revenue grew 4 percent to $16.4 billion.
The company also brags about being the "overall network leader" with the largest and fastest 5G network, citing reports from analytics companies Ookla and Opensignal.
Going forward, T-Mobile hopes to add around 5.4 million to 5.7 million mobile subscribers by the end of the year. Its previous forecast was 5.6 million customers. That's impressive, not only because higher prices are not deterring customers but also because the industry as a whole is cooling off.
The company added 1.3 million new postpaid subscribers, which is more than what its rivals managed. Out of these, 777,000 were phone customers, which again is an industry-leading figure.
The company added more new postpaid phone customers during the second quarter of 2024 than in any previous Q2, which is quite an achievement, considering all the bad press around the company in recent months due to a string of unpopular moves. It also performed better than what analysts had expected.
T-Mobile generated industry-leading net income of $2.9 billion during Q2 2024, up 32 percent when compared to the year-ago quarter. Wireless service revenue grew 4 percent to $16.4 billion.
The company also brags about being the "overall network leader" with the largest and fastest 5G network, citing reports from analytics companies Ookla and Opensignal.
Going forward, T-Mobile hopes to add around 5.4 million to 5.7 million mobile subscribers by the end of the year. Its previous forecast was 5.6 million customers. That's impressive, not only because higher prices are not deterring customers but also because the industry as a whole is cooling off.
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