T-Mobile US Inc (NASDAQ:TMUS) added more post-paid customers than expected in the second quarter of 2023 and reported consensus-beating earnings, though revenue fell short.
Post-paid phone additions to its network totalled 760,000 in the three months to June 30, 2023, which the mobile phone company claimed was the highest in the industry and its best 2Q in eight years.
Postpaid net customer additions reached 1.6 million, also ahead of the industry, the company said as it increased its full-year net additions target to between 5.6 million and 5.9 million, from 5.3 million to 5.7 million previously.
The 2Q performance also reflected the lowest postpaid phone churn in the industry for the first time ever, it added.
“We’ve set audacious goals and delivered a durable and differentiated plan that is working just as we said it would,” CEO Mike Sievert said in a statement.
“And now, fueled by our unique growth opportunities, the momentum of our latest Un-carrier moves, and an unquenchable desire to be the very best at delivering for customers, we are the one to watch — with no plans to slow down.”
Revenue for the quarter totalled $19.2 billion, down 2.6% from a year earlier and below the consensus estimate of $19.4 billion. Earnings per share rose to $1.86, from a $0.09 loss previously, topping the $1.70 expected by the Street.
The company’s shares traded 0.5% lower at $139.20 in Friday pre-market trading.
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