Tuesday, May 4, 2021

T-Mobile US raises guidance as customer count tops 103.4 million

 Total Q1 2021 revenues for T-Mobile US increased year-over-year to $19.8 billion and total service revenues increased year-over-year to $14.2 billion in Q1 2021, driven by the Sprint merger and continued customer growth.

Net income was relatively flat year-over-year at $933 million in Q1 2021, as higher revenues were offset by expense increases as a result of the Sprint merger, including merger-related costs. Diluted earnings per share (EPS) decreased year-over-year to $0.74 in Q1 2021, primarily due to a higher number of outstanding shares as a result of the Sprint merger.

Some highlights for the quarter

  • Net customer additions of 1.4 million. The total customer count increased to a record-high of 103.4 million.
  • Postpaid net customer additions of 1.2 million, eclipsing  the 1 million mark for the 4th consecutive quarter.
  • Postpaid phone net customer additions of 773 thousand. Postpaid phone churn was 0.98%.
  • Postpaid other net customer additions of 437 thousand. 
  • Prepaid net customer additions of 151 thousand in Q1 2021 were the highest in three years and record-low prepaid churn of 2.78% continued to lead the industry.

“T-Mobile puts customers at the center of everything we do by giving them the best network, value and experience all at once – and this quarter’s stellar, industry-leading results prove that they’re noticing,” said Mike Sievert, CEO of T-Mobile. “We just keep pushing further ahead of the competition. Our network leadership is fueling customer momentum, delivering merger synergies and expanding our addressable markets for growth. We have so much confidence that we are raising 2021 guidance just one quarter into the year. Our mission is to be the very best at connecting customers to their world and we’re delivering on it.”