Coconino News

T Mobile USA Inc. recently issued the following announcement.

Industry-Leading Customer Growth and Sprint Merger Result in Overtaking AT&T as #2 Wireless Provider

1,245,000 total net additions, best in industry

1,112,000 postpaid net additions, best in industry

253,000 postpaid phone net additions with postpaid phone churn of 0.80%

133,000 prepaid net additions with prepaid churn of 2.81%

98.3 million total customers at the end of Q2 2020, 2nd most in industry

Strong Financial Results in First Quarter as New T-Mobile

Total revenues of $17.7 billion and service revenues of $13.2 billion

Net income(1) of $110 million and diluted earnings per share (“EPS”) of $0.09

Adjusted EBITDA(1) of $7.0 billion

Net cash provided by operating activities of $777 million

Free Cash Flow, excluding gross payments for the settlement of interest rate swaps(1) related to merger financing of $1.4 billion

Building Transformative Nationwide 5G Network and Delivering Merger Synergies

America’s largest 5G network covering more than 250 million people across 1.3 million square miles, more than double AT&T’s geographic coverage and exponentially more than Verizon

More than 10 percent of Sprint postpaid customer traffic has already been moved over to the T-Mobile network and site decommissioning has begun

Accelerated rationalization of retail stores and organizational redesign to pull forward synergies

(1) Adjusted EBITDA and Free Cash Flow are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP Net income including, but not limited to, Income tax expense, stock-based compensation expense and Interest expense. Adjusted EBITDA should not be used to predict Net income as the difference between the two measures is variable.

BELLEVUE, Wash. - August 6, 2020 - T-Mobile US, Inc. (NASDAQ: TMUS) reported second quarter results today, highlighted by overtaking AT&T in total branded customers as America’s #2 wireless provider and another quarter of industry-leading customer growth. In the company’s first quarter since closing the Sprint merger and during an unprecedented social and economic climate, the New T-Mobile established itself as the undisputed growth leader in wireless by continuing to lead the industry in total branded net customer additions for the 22nd consecutive quarter.

Since closing its merger with Sprint on April 1, 2020, T-Mobile has been driving hard on integration and remains highly confident in its ability to unlock massive synergies and build the world’s best 5G network. Already, the company has unified employees and customers under one brand, converting thousands of legacy Sprint stores to magenta and adding the tools and systems to serve all customers in all stores. T-Mobile also amped up competition like never before to celebrate this event with its recent supercharged Un-carrier deal — available only for a limited time this summer, customers can get four lines of unlimited data for just $25 each per month plus tax including access to the nation’s largest 5G network.

“Surpassing AT&T to become #2 was a huge milestone to kick off Q2, but that was only the beginning! In our first quarter as a combined company, T-Mobile led the industry in total branded customer adds – even in a challenging environment – and there is no doubt that we are THE leading growth company in wireless,” said Mike Sievert, T-Mobile CEO. “Now we’re setting our sights on #1 – in customer choice and customers’ hearts – and we’ll get there by doing ONLY what the Un-carrier can do: offering customers the most advanced 5G network AND the best value while continuing to make big moves that fix customer pain points and disrupt this industry. I’m excited about what’s to come in this new T-Mobile era – we’re just getting started!”

Original source can be found here.