T-Mobile US, Inc. (NASDAQ: TMUS) reported its most recent quarterly results after markets closed Wednesday and the stock was halted following these results. The company said that it had $0.67 in earnings per share (EPS) and $10.2 billion in revenue, compared with consensus estimates from Thomson Reuters that called for $0.38 in EPS and $9.81 billion in revenue. The same period from last year had $0.25 in EPS and $9.22 billion in revenue.
During the quarter, T-Mobile racked up 1.3 million total net additions, marking 17 straight quarters of adding over 1 million. At the same time, the cell provider had 817,000 total branded postpaid net additions and it expects to lead the industry for the 6th consecutive quarter. The firm also had 786,000 branded postpaid phone net additions.
In terms of guidance for the rest of 2017, T-Mobile increased the range of its branded postpaid net consumer additions to a range of 3.0 million to 3.6 million from the previous range of 2.8 million to 3.5 million. The firm also increased its adjusted EBITDA guidance to $10.5 billion to $10.9 billion from $10.4 billion to $10.8 billion.
There are consensus estimates calling for $2.06 in EPS and $40.34 billion in revenue for the 2017 full year.
John Legere, President and CEO of T-Mobile, commented:
We just delivered a quarter with record service revenue, record-low churn, strong net income and record Adjusted EBITDA – all while leading the industry in postpaid phone growth. On top of that, our network just keeps getting better and faster while the Duopoly’s networks seem to be choking after we forced them to go unlimited. Make no mistake about it, the Un-carrier will not stop forcing change in this industry and our Q2 results are more proof that consumers are responding!
Shares of T-Mobile closed Wednesday at $61.97, with a consensus analyst price target of $70.77 and a 52-week range of $43.64 to $68.88. Following the release of the earnings report, the stock was halted but will resume trading after 4:30 ET.