T-Mobile Us Inc (NASDAQ:TMUS) reported better-than-expected earnings for its second quarter and said it had 98.3 million total customers at the end of the quarter. The company also claimed it had become the second-largest cellular carrier in the U.S., ahead of AT&T Inc. (NYSE:T)
Total revenues increased year-over-year to $17.7 billion in Q2 2020, driven by the Sprint merger and continued customer growth at T-Mobile. Total revenues exclude approximately $1.3 billion of Boost revenues that are reflected in discontinued operations.
Net income decreased year-over-year to $110 million and EPS decreased year-over-year to $0.09 in Q2 2020, primarily due to the Sprint merger and merger-related costs, impacts of COVID-19, and non-cash impairments.
Since closing its merger with Sprint last April, T-Mobile has been driving hard on integration and remains highly confident in its ability to unlock massive synergies and build the world’s best 5G network. Already, the company has unified employees and customers under one brand, converting thousands of legacy Sprint stores to magenta and adding the tools and systems to serve all customers in all stores.
T-Mobile also amped up competition like never before to celebrate this event with its recent supercharged Un-carrier deal — available only for a limited time this summer, customers can get four lines of unlimited data for just $25 each per month plus tax including access to the nation’s largest 5G network.
"Surpassing AT&T to become #2 was a huge milestone to kick off Q2, but that was only the beginning! In our first quarter as a combined company, T-Mobile led the industry in total branded customer adds – even in a challenging environment – and there is no doubt that we are THE leading growth company in wireless," said Mike Sievert, T-Mobile CEO.
TMUS vaulted $9.30, or 8.6%, to $117.40.
