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T-Mobile rises as quarterly profits top Street forecasts; upgrades full-year subscriber growth expectations

“We’re delivering results that no one else can match and have proven time and time again that we know how to fight for customers and win for shareholders. We won’t stop!"

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T-Mobile is rumoured to be close to agreeing the acquisition of its smaller rival, Sprint

Shares in T-Mobile US Inc (NASDAQ:TMUS) moved higher in pre-market trade on Monday after the wireless carrier topped Wall Street estimates with its quarterly profit and raised the lower end of its expected range of customer additions for the year.

For the quarter ended September 30, T-Mobile’s net income was US$550mln, or US$0.63 a share, up from US$366mln, or US$0.42 a share, in the corresponding period a year earlier.

Ahead of expectations

Revenue came in at US$10.02bn, up from US$9.31bn in the third quarter of 2016.

According to Reuters, Wall Street analysts had been forecasting earnings of US$0.46 a share and revenue of US$10.01bn.

T-Mobile, which is in talks to acquire its smaller rival Sprint Corp (NYSE:S), added that it now expects to add between 3.3mln and 3.6mln monthly customers this year, up from its previous guidance of between 3mln and 3.6mln.

"Just step back and look at these financial results — they’re incredible! Record service revenues, record free cash flow, record Q3 Adjusted EBITDA — and that’s on top of 18 quarters in a row with more than one million customers added," said president and chief executive John Legere.

“We’re delivering results that no one else can match and have proven time and time again that we know how to fight for customers and win for shareholders. We won’t stop!"

T-Mobile shares added 1.5% to US$61.40 in the pre-market.

Quick facts: T-Mobile US Inc

Price: 131.4 USD

NASDAQ:TMUS
Market: NASDAQ
Market Cap: $163.15 billion
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