T-Mobile (TMUS) Offers Preliminary View of Q3 Customer Results
- Wall Street flat as banks gain, utilities drag
- Equinix (EQIX) Announces $3.6B Acquisition of Data Center Portfolio from Verzion (VZ)
- Deal Progress Said to Slow as Johnson & Johnson (JNJ) Puts Actelion (ALIOY) Under Microscope - Source
- Trump Wants to Cancel New Air Force One Order with Boeing (BA)
- Roper Industries (ROP) to acquire Deltek in $2.8B Deal
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
T-Mobile US, Inc. (NASDAQ: TMUS) provided a preliminary view of several key customer results for the third quarter of 2016 that continue to show consumers are flocking to the Un-carrier in a quarter that saw the Company introduce T-Mobile ONE, announce key network milestones and witness the strongest iPhone pre-order in Company history.
As of the first half of September the Company has already surpassed Q2 2016 levels in key subscriber performance metrics including branded postpaid phone and prepaid net customer additions. T-Mobile also shared that overall industry postpaid porting ratios are improving vs. the previous quarter, including ports with each of the three major wireless carriers over Q2 2016.
T-Mobile’s customer flow in Q3 2016 continues to come from all three major wireless carriers who are generous contributors and these numbers are already ahead of Q2 2016 full quarter results. T-Mobile estimates that Verizon has contributed over 250K postpaid phone and prepaid net customer additions to T-Mobile quarter-to-date, while AT&T has donated nearly 400K and nearly 300K have come from Sprint. In addition to these, T-Mobile continues to see strong flows of new first time customers coming to market, customers adding lines to their existing accounts and to a lesser degree switching from brands other than the big 3. Quarter to date the Company has added approximately 753K branded postpaid phone net additions and 650K prepaid net customer additions.
The Company reiterates its commitment to its current financial guidance and full year outlook and will provide a full update on its growth outlook for 2016 as part of its Q3 2016 earnings report in late October.
“All three wireless carriers tried to match Un-carrier signature moves this quarter, like getting rid of overages and introducing unlimited data plans, but as usual, they came up short,” said John Legere, President and CEO of T-Mobile. “Our Q3 results so far have surpassed Q2 in postpaid phone and prepaid nets, and we are adding customers from ALL of the other guys at an increasing rate.”
In just over 3 years the Un-carrier has gone from zero LTE coverage to covering nearly 312 million people and now has near parity with the once dominant Verizon coverage, reaching 99.7% of the consumers Verizon does. T-Mobile has built the nation’s densest, highest-capacity LTE network, with more spectrum per customer than either Verizon or AT&T, and more cell sites per customer than the Duopoly as well. The Company has been first to market with a number of network technology advancements such as VoLTE, 4x4 MIMO, Wi-Fi calling and EVS/HD Voice Services to fuel its growth.
“T-Mobile covers nearly everyone Verizon reaches. I’m calling it. Verizon’s coverage advantage is gone,” said Neville Ray, CTO of T-Mobile. “Now, Verizon’s rebranding their older, slower network as ‘LTE Advanced,’ highlighting technology we launched two years ago. Even with their ‘new’ technology T-Mobile’s LTE network is still faster – just ask OpenSignal, Ookla or the FCC.”
The Company has been on a consistent and aggressive push to upend the wireless industry for more than three years now and has completely rebuilt its network at the same time.
T Mobile’s Chief Financial Officer, Braxton Carter, Chief Operating Officer, Mike Sievert and Chief Technology Officer, Neville Ray will present and provide a business update at 10:30 a.m. Eastern Daylight Time on Thursday, September 22nd at the Goldman Sachs Communacopia Conference in New York, NY.
A live webcast of the event will be available on the Company’s Investor Relations website, http://investor.t-mobile.com, on Thursday, September 22, 2016 at 10:30 a.m. EDT. An on-demand replay will be available shortly after the conclusion of the presentation.
These customer results are preliminary and are subject to completion of the Company's quarter-end closing review procedures.
T-Mobile Social Media
Investors and others should note that the Company announces material financial and operational information to its investors using its investor relations website, press releases, SEC filings and public conference calls and webcasts. The Company also intends to use the @TMobileIR Twitter account (https://twitter.com/TMobileIR) and the @JohnLegere Twitter (https://twitter.com/JohnLegere), Facebook and Periscope accounts, which Mr. Legere also uses as a means for personal communications and observations, as means of disclosing information about the Company and its services and for complying with its disclosure obligations under Regulation FD. The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following the Company’s press releases, SEC filings and public conference calls and webcasts. The social media channels that the Company intends to use as a means of disclosing the information described above may be updated from time to time as listed on the Company’s investor relations website.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- GoDaddy (GDDY) to Acquire Host Europe Group in ~$1.8B Deal
- Corning (GLW) Takes Minority Stake in Menlo Micro
- 3M Co. (MMM) Enters Agreement to Sell HOYA Vision Care Business
Create E-mail Alert Related CategoriesCorporate News, Guidance, Management Comments
Related EntitiesGoldman Sachs, Twitter, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!