T-Mobile adds 8m US customers for third year in a row and beats market expectations
T-Mobile, the third largest mobile phone operator in the US, today beat market expectations with "rock-solid" full-year results.
The firm said it had added a total of 2.1m customers in the final three months of the year, taking the total number of new customers to 8.2m in 2016.
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"Not only are customers flocking to T-Mobile, but we're also producing rock-solid financial results," said John Legere, the president and chief exec of T-Mobile. He added:
The competition just doesn't get that customers want to come first! That's three years in a row that we've added more than 8m customers.
Fourth quarter total revenues increased by 23 per cent to $10.2bn (£8.2bn) compared with Thomson Reuters analyst poll of an expected $9.8bn. Net income grew by 31 per cent to $390m or 45 cents per share compared with 34 cents per share in the same period 12 months ago.
Shares in the firm jumped nearly two per cent in trading in the US in the wake of the news.
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T-Mobile's US operations are a separate from the wider T-Mobile group of companies, most of which are subsidiaries of Deutsche Telekom. It trades as a distinct entity on the New York Stock Exchange and the new additions take its customer base to 71.5m.
The firm said it had added more than 1m users to its network for 15 successive quarters.