T-Mobile’s net income in Q3 came to $691 million, with diluted earnings per share of 55 cents. Total revenues increased 2% year-over-year to $19.6 billion. Analysts were expecting earnings of 52 cents per share on revenue of $20.18 billion. “Another quarter of amazing results shows that customers love T-Mobile’s unique combination of the best value, best network and best experience,” CEO Mike Sievert said in a statement. “With our Magenta business firing on all cylinders and our Sprint integration ahead of schedule, we are well positioned for the future — and poised to continue winning with assets and a formula for growth that is differentiated from the other wireless players. We just keep exceeding our own targets on growth, profit and synergies — and we have no plans to slow down now.” T-Mobile added 673,000 postpaid phone net additions in Q3 and 268,000 postpaid accounts. Service revenue was a record $14.7 billion, growing more than 4% year-over-year. Postpaid service revenues growth of 6% year-over-year. The company also reported progress on the Sprint integration. About 90% of Sprint customer traffic is now carried on the T-Mobile network, and about 53% of Sprint customers have been fully moved over. The company’s Extended Range 5G now covers 308 million people and 1.7 million square miles. Last month, T-Mobile’s wireless competitors posted their own strong quarterly results. AT&T said it added 928,000 postpaid phone net additions in the quarter, making Q3 AT&T’s strongest showing in 10 years. Verizon similarly reported better-than-expected third quarter results, adding 699,000 retail post-paid net subscribers. As for the outlook, T-Mobile said it expects postpaid net customer additions between 5.1 million and 5.3 million, an increase from prior guidance of 5.0 million to 5.3 million.
