T-Mobile adds a whopping 2.4 million subscribers in the first quarter

T-Mobile adds a whopping 2.4 million subscribers in the first quarter
T-Mobile is posting envious subscriber additions compared to the competition, adding more net subscribers in the first quarter than AT&T, Verizon, and Sprint combined.

T-Mobile also saw its churn decrease markedly over a year ago, and sequentially from the previous quarter. CEO John Legere noted that T-Mobile is approaching 50 million total customers.

The subscriber numbers include postpaid, prepaid, branded, and non-branded. This report marks a first time the carrier added more than 2 million customers in a single quarter. The lower churn numbers also indicate Team Magenta has a bit of staying power, though that was also aided by the carrier’s industry changing equipment installment plans, of which T-Mobile says there are over 5.3 million customers enrolled in JUMP!.

The stellar customer adds do not come without a cost, however. T-Mobile posted a loss of $151 million on $6.88 billion revenue for the quarter, which missed the $6.92 billion target slightly. For the same quarter last year, T-Mobile posed a $107 million profit. Average revenue per user dipped a bit, 1.4%, to $50 per-month.

The financials did not hurt T-Mobile’s stock and the subscriber additions have steered the carrier’s projections for the rest of the year upward from a bit under 3 million to about 3.3 million, meaning, T-Mobile expects to be adding north of 1 million customers for each remaining quarter in 2014.

“A year ago I promised that we would bring change to what I called this arrogant US wireless industry. We are delivering on that promise and our results reflect the growing customer revolution that we’ve ignited,” said John Legere

source: T-Mobile

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