By Yasin Ebrahim
Investing.com – T-Mobile US (NASDAQ:) reported Thursday second quarter that beat analysts’ forecasts, and the U.S. wireless carrier upgraded its outlook on full-year subscriber ads.
T-Mobile US shares fell 2% in after-hours trade following the report.
T-Mobile US announced earnings per share of 78 cents on revenue of $20 billion. Analysts polled by Investing.com anticipated EPS of 50 cents on revenue of $19.36 billion.
The beat on the top line was driven by “continued customer growth and higher wholesale revenues,” the company said.
Postpaid net additions were 1.3 million in the quarter, postpaid phone additions more than doubled to 627,000 from last year, while postpaid account net additions were 349,000.
The stronger postpaid customer gains and service revenue growth “translated into growth in profitability and cash flow, and drove another beat and raise quarter,” it added.
Looking ahead, T-Mobile raised its full-year subscriber growth forecast to as many as 5.3 million, up from 4.9 million in its previous outlook.
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