Stock Market News
T-Mobile adds higher-than-expected subscribers on 5G demand
2022.04.27 14:47
FILE PHOTO: A T-Mobile logo is advertised on a building sign in Los Angeles, California, U.S., May 11, 2017. REUTERS/Mike Blake
(Reuters) – T-Mobile US (NASDAQ:TMUS) Inc on Wednesday beat estimates for subscriber additions in the first quarter, as it benefited from the rollout of new 5G cellular networks.
The company added 589,000 monthly phone-bill paying customers, compared with estimates of 584,900, according to FactSet.
Total revenue at the wireless carrier rose 1.8% to $20.12 billion, edging past analysts’ estimates of $20.11 billion, according to Refinitiv IBES data.
Net income, however, fell 23.6% to $713 million.
Shares of the company rose 1.6% to $127 in premarket.
