(Updated - February 8, 2018 9:21 AM EST)

T-Mobile (NASDAQ: TMUS) reported Q4 EPS of $0.48 (excluding the impacts of the TCJA and other net tax benefits, spectrum gains and hurricane impacts), $0.11 better than the analyst estimate of $0.37. Revenue was $10.76 billion compared to the consensus of $10.83 billion.

• EPS increased by $2.66 year-over-year to $3.11 in Q4 2017.
• For the full-year 2017, EPS increased by $3.51 to $5.20.
• EPS excluding the impacts of the TCJA and other net tax benefits, spectrum gains and hurricane impacts was $0.48 in Q4 2017 and $2.29 in full-year 2017, respectively.
• The impact from the TCJA on Net income and EPS was $2.2 billion and $2.50 in Q4 2017 and $2.2 billion and $2.49 in 2017, respectively.

2018 Outlook

In 2018, we expect postpaid net customer additions between 2.0 and 3.0 million.

T-Mobile is not able to forecast net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP net income including, but not limited to, income tax expense, stock based compensation expense and interest expense. Adjusted EBITDA should not be used to predict net income as the difference between the two measures is variable. Guidance is stated in terms of GAAP as of December 31, 2017, and does not include impacts from the adoption of ASU 2014-09, \"Revenue from Contracts with Customers (Topic 606)\" and ASU 2016-15, \"Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments.\"

Adjusted EBITDA is expected to be between $11.3 and $11.7 billion. Our Adjusted EBITDA target includes leasing revenues of $0.6 - $0.7 billion. Including the estimated impact of the new revenue standard, Adjusted EBITDA will increase by an additional $0.2 - $0.5 billion for a total range of $11.5 - $12.2 billion.

Cash purchases of property and equipment, excluding capitalized interest, are expected to be between $4.9 and $5.3 billion. This includes expenditures for 5G deployment.

The three-year CAGR guidance (2016 - 2019) for net cash provided by operating activities is expected to be 16% - 18%, up from the previous guidance of 15% - 18%. The three year CAGR guidance for Free Cash Flow is expected to be 46% - 48%, up from the previous guidance of 45% - 48%. These increases are after considering the impacts of the approved up to $1.5 billion stock repurchase program.

Under existing revenue accounting standards, T-Mobile continues to expect that branded postpaid phone ARPU in full-year 2018 will be generally stable compared to full-year 2017, with some quarterly variations. The adoption of the new revenue accounting standard will impact the timing, amount and allocation of our revenue and is expected to impact ARPU.

In 2018, we expect the following impacts from the adoption of the new revenue accounting standard:

• Service revenues $(0.2) - $(0.1) billion
• Total revenues $0.3 - $0.5 billion
• Operating expenses $(0.1) - $0.1 billion
• Net income $0.2 - $0.4 billion
• Adjusted EBITDA $0.2 - $0.5 billion
• We expect postpaid phone ARPU to be negatively impacted from changes in revenue allocation under the new accounting standard.

For earnings history and earnings-related data on T-Mobile (TMUS) click here.