T-Mobile is continuing its streak of increasing its customer base for successive quarterly results, with it reporting 2.2 million total net additions for the period. The latest quarterly figures mean the carrier has added at least 1 million customers to its base for 12 successive quarters, while also making this the sixth quarter in the last seven to increase by at least 2 million customers, with other items in the results pointing to continued strong growth.
Of the new customers, 877,000 of them are branded postpaid phone net additions, which T-Mobile suggests could be the highest in the industry for the ninth consecutive quarter, with a branded postpaid phone churn of 1.33 percent. Branded prepaid additions totaled 807,000, which is an eleven-fold increase year-on-year.
Total revenues are $8.6 billion for the quarter, up 10.6 percent year-on-year, with service revenues also up 13 percent to $6.6 billion. Net income for the carrier in the quarter reached $479 million, giving it an earnings per share of $0.56.
“I can’t think of a better way to start off 2016 than by capturing all of the industry’s postpaid phone growth – again!” said president and CEO John Legere in a statement. “Our model is working and the business momentum is accelerating across the board.”
In light of the good results, guidance for branded postpaid net additions for 2016 has been increased to between 3.2 million and 3.6 million, up from 2.4 to 3.4 million. The Adjusted EBITDA target has also increased, with the previous range of $9.1 to $9.7 billion changed to $9.7 to $10.2 billion.
