T-Mobile beats revenue estimates on higher subscriber additions
FILE PHOTO – A sign for a T-Mobile store is seen in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton/File Photo
(Reuters) – T-Mobile US Inc on Thursday beat Wall Street estimates for quarterly revenue, as the wireless carrier added more net new phone subscribers who pay a monthly bill.
The third-largest U.S. mobile carrier said it added a net of about 1 million phone subscribers in the fourth quarter compared with 891,000 additions a year earlier. Analysts were expecting 912,000 new subscribers, according to research firm FactSet.
The company’s net income fell to $ 640 million, or 75 cents a share, in the quarter ended Dec.31, from $ 2.71 billion, or $ 3.11 a share, a year earlier, when it recorded a big tax related one-time gain.
Revenue rose to $ 11.45 billion from $ 10.76 billion. Analysts were expecting revenue of $ 11.39 billion, according to IBES data from Refinitiv.
Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Arun Koyyur