T-Mobile raises lower end of forecast after Q3 beat
T-Mobile (NASDAQ:TMUS) reported third quarter results that surpassed analyst expectations. As a result, shares rose 1.4% in pre-open trade.
EPS of $1.82 on revenue of $19.25 billion was better than the expectations for earnings per share of $1.70 on revenue of $19.37B.
“I’ve said it before and I’ll say it again: in this competitive environment, only T-Mobile can deliver the type of stellar results we saw in Q3 because only we can consistently deliver the best network and best value combination that customers want,” said Mike Sievert, CEO of T-Mobile.
The company now expects to gain between 5.7 million and 5.9 million postpaid net customers for the full year, up from the prior expectation of 5.6M to 5.9M. Analysts were looking for 5.91M.
Similarly, free cash flow is expected in the region of $13.4B-13.6B, better than the previous forecast for $13.2B-13.6B, and slightly ahead of the consensus of $13.47B.
In the third quarter, TMUS gained 1.31 million new customers, reflecting a 25% decrease year-over-year, and below the expected additions of 1.49M.
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