T-Mobile adds over 1 million postpaid subscribers for the fourth straight quarter
T-Mobile reported revenue for the quarter of $8.2 billion, up 14% year-over-year. Net income for the quarter amounted to $361 million (or 49 cents a share), up sequentially from the $63 million net loss (or -9 cents a share) reported for the first quarter of this year.
T-Mobile is closing in on its target of covering 300 million Americans with 4G LTE. Right now, that figure is at 290 million. 212 markets are covered with Wideband LTE and the carrier hopes to hit 250 by the end of the year. T-Mobile has also covered 141 markets with 700 MHz A-Block spectrum. At this frequency, signals travel farther and more easily penetrate buildings.
T-Mobile also announced this morning that 100% of MetroPCS customers have migrated to the T-Mobile network. All of the pre-paid carrier's CDMA spectrum has been re-farmed. T-Mobile also pointed out in its release that for the quarter, it ranked highest in the J.D. Power Wireless Customer Care Study.
So the second quarter is in the bag. What about the current quarter? Things are going so well for T-Mobile that it has increased its guidance for the quarter, and now expects 3.4 million to 3.9 million net new postpaid additions from July through September.