T-Mobile Q3 revenue jumps 74% to $19.27B

Thursday, 05. November 2020 22:12

T-Mobile's revenue in the third fiscal trimester surged 74% annually to reach $19.27 billion, beating market expectations, the mobile communications company unveiled on Thursday. The US-based firm's net income grew 44% year on year to $1.25 billion, while diluted earnings per share went down by 1% from the previous year's third trimester to land at $1.

T-Mobile reported a record-high 2,035,000 total net customer additions in the third quarter, up by 78% on an annual basis fueled by record 1,979,000 postpaid net additions. Meanwhile, operating income stood at $2.56 billion, climbing 74% year-over-year.

"Last quarter T-Mobile overtook AT&T to become #2 in US wireless and today we announced our highest ever postpaid net adds. Now, with over 100 million wireless customers and America’s largest 5G network, there is no doubt that we’re the growth leader in wireless," the company's CEO Mike Sievert said in a statement.

The US wireless operator's shares soared nearly 5% in after-hours trading following the earnings release.

Related Links: T-Mobile US, Inc.
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Breaking the News / GA