T-Mobile Stock ( NASDAQ:TMUS )
T-Mobile ( NASDAQ:TMUS ) surged 7.1% on Friday as investors responded to a financial loss by bidding the stock up on subscriber growth and an enthusiastic outlook . This trend has been seen with other telecom/media stocks during earnings season. As a result, T-Mobile surged in the market.
Despite an increase of 4.3% in service revenues, the carrier fell short of analyst projections by $0.5 billion in overall revenue. The income generated from postpaid services increased by 7% year-on-year.
T-highest-ever Mobile’s net additions for postpaid customers significantly contribute to those numbers.
Overall, postpaid accounts increased by 394,000, significantly from the 268,000 net additions in the prior year. Compared to AT&T and Verizon, the T-Mobile gain of 854,000 postpaid phone subscribers was far more than expected.
The percentage of customers leaving postpaid plans decreased to 0.88%, while the percentage leaving prepaid plans decreased to 2.88.
It also slightly outperformed its residential and commercial broadband consumers. Growth in high-speed Internet subscriptions increased dramatically to 578,000 from 134,000 a year before. The increase boosted the number of people with access to fast Internet to 2.12 million.
Moreover, it increased 2022 projections for the third time. Postpaid net additions are forecasted to be between 6.2M and 6.4M for the whole year, up from the earlier forecast of 6M to 6.3M. The previously anticipated range of $26.2B to $26.4B for adjusted earnings before interest, taxes, depreciation, and a...
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