T-Mobile US, Inc. (NASDAQ: TMUS) reported first quarter financial results after markets closed Monday. The company said that it had $0.80 in diluted GAAP earnings per share (EPS) and $9.61 billion in revenue, versus consensus estimates from Thomson Reuters that called for $0.34 in EPS and $9.62 billion in revenue. The same period from last year had $0.56 in EPS and $8.6 billion in revenue.
Total net customer additions totaled 1.1 million in the first quarter, bringing the total customer count to 72.6 million. This was the 16th consecutive quarter in which T-Mobile generated more than 1 million total net customer additions.
Branded postpaid net additions were 914,000 in the first quarter. Also branded prepaid net additions were 386,000 at the same time.
Service revenues increased 11% to $7.3 billion, growing at the same pace as total revenues.
In terms of the outlook for the 2017 full year, the company raised its guidance for branded postpaid net additions to the range of 2.8 million to 3.5 million, from the previous range of 2.4 million to 3.4 million. The firm maintained guidance of $4.8 billion to $5.1 billion of cash capital expenditures.
Consensus estimates are calling for $1.79 in EPS and $40.53 billion in revenue for the 2017 full year.
John Legere, President and CEO of T-Mobile, commented:
We’ve been beating up on the competition for over 4 years now while making wireless better for consumers. Q1 was no different with T-Mobile again producing the best customer and financial growth in the industry. Add to that our recent success in the 600 MHz spectrum auction and it’s clear we’re just getting started!
Shares of T-Mobile closed Monday up nearly 2% at $65.93, with a consensus analyst price target of $68.00 and a 52-week trading range of $38.47 to $65.97. Following the release of the earnings report, the stock was halted in the after-hours trading session until 4:30 pm Eastern.