T-Mobile Q4 strong as net adds continue to outpace rivals

T-Mobile’s momentum continued in the fourth quarter as the company reduced churn rates for its existing customer base and delivered 2.4 million net adds in the fourth quarter.

The wireless carrier, which calls itself an uncarrier, reported fourth quarter net income of $640 million, or 75 cents a share, down 76 percent from a year ago. Revenue in the fourth quarter was $11.4 billion, up 6 percent a year ago.

For the year, T-Mobile reported net income of $2.9 billion on revenue of $43.3 billion.

In addition, T-Mobile added 7 million subscribers in 2018. The company said that postpaid phone churn was 0.99 percent in the fourth quarter a company low.

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T-Mobile continues to outpace rivals such as AT&T and Verizon with adding net customers, but the pace of growth is slowing.

The company projected branded postpaid customer additions of 2.6 billon to 3.6 billion, down from the 4.5 billion added in 2018.

T-Mobile said it is building out its 5G network, which will be standards based. The company added that it is deploying equipment that is 5G ready. 

Wall Street was expecting T-Mobile to report earnings of 69 cents a share on revenue of $11.4 billion.  

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