T-Mobile beats revenue estimates on higher subscriber additions

Technology

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

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