T-Mobile US Inc (NASDAQ: TMUS) fell just a tad below the flatline Thursday as the company reported stronger-than-expected results for its second quarter.
Total revenues topped $10.2 billion, up 10% from the prior-year quarter, leading the company to expect to lead the industry in growth for 16th time in last 17 quarters. The company also posted strong net income of $581 million, up 158% from the same month last year.
"This was the first full quarter," continues a release put forth Wednesday, "where the competition went big on unlimited offers, yet T-Mobile still expects to capture all of the industry post-paid phone growth."
T-Mobile also added 1.3 million total customers, marking 17 straight quarters of adding more than one million every quarter. We expect to capture all of the industry's postpaid phone growth with 786,000 branded post-paid phone customers in the quarter."
T-Mobile has been embroiled in intense competition with other mobile carriers as consumers increasingly demand unlimited data plans ahead of the release of 5G phone chips.
CEO John Legere credited the impressive quarter's numbers to investments in the network as well as "good, old-fashioned focus" from engineers.
The company, based in Bellevue, Washington, prides itself in its "advanced nationwide 4G LTE network delivers outstanding wireless experiences to 69.6 million customers".
As of Wednesday's close, T-Mobile stock had risen nearly 8% this year. The shares neared Thursday’s close at $61.31, down 66 cents, or 1.1%, from Wednesday’s close.
