T-Mobile blows away Wall Street with its Q2 results
T-Mobile is kicking butt and taking numbers. Phone numbers, that is. The 786,000 names being added to the carrier's list of postpaid phone subscribers will represent 100% of the category's growth for the entire industry. That is absolutely amazing. In addition, T-Mobile is expected to lead the industry in growth for the 16th time in the last 17 quarters with its reported $10.2 billion in revenues. That is up 10% for the year. Net income of $581 million is up 158% year-over-year. Diluted earnings per share of 67 cents show a gain of 168% over last year's number.
At the end of the quarter, 315 million Americans were covered by T-Mobile's signal. That could hit 321 million by the end of the year. T-Mobile has also completed its deployment of low frequency 700MHz spectrum, which now covers 271 million people in 575 markets. It expects to have its 600MHz spectrum up and running in certain areas as soon as this August. This low frequency spectrum travels farther and penetrates buildings better than high-range airwaves. T-Mobile won 45% of the 600MHz spectrum auctioned off by the FCC earlier this year.
So far in 2017, the carrier has added 1,000 new T-Mobile and 1,100 MetroPCS locations with a combined target of 3,000 planned for this year.