T-Mobile US upped its guidance for customer additions and adjusted EBITDA, after reporting a strong Q1 “despite [the] competition’s best attacks”.
“Our model is working and the business momentum is accelerating across the board. Customers are joining the ‘Un-carrier’ revolution and that is producing incredible financial results,” John Legere, president and CEO, said.
In the first three months of the year, the company added 2.2 million net customers, taking its total to 65.5 million, and marking the sixth time in seven quarters that adds have topped 2 million.
Net profit for the period of $479 million compared with a prior-year loss of $63 million, on revenue of $8.6 billion, up 10.6 per cent.
Service revenue of $6.6 billion was up 13 per cent. The company said it “expects to lead the industry in year-on-year service revenue growth for the 8th consecutive quarter”.
The company also benefitted from the sale of spectrum licences. It has also inked deals intended to improve its low-band frequency holdings, while also taking part in the FCC’s incentive auction.
For the full year, T-Mobile expects branded postpaid net customer additions of between 3.2 million and 3.6 million, an increase from its previous guidance of 2.4 million to 3.4 million.
It also expects adjusted EBITDA to be in the $9.7 billion to $10.2 billion range, up from its previous guidance of $9.1 billion to $9.7 billion.
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