T-Mobile beats estimates for phone subscribers
(Reuters) - T-Mobile US Inc (NASDAQ: TMUS) on Thursday beat analysts' estimates for second-quarter net new phone subscribers who pay a monthly bill, boosted by the U.S. mobile carrier's competitive wireless plans aimed at fending off its bigger rivals.
The third-largest U.S. mobile carrier said it added a net 710,000 phone subscribers in the three months ended June 30, compared with 686,000 additions a year earlier.
Analysts were expecting 643,000 new subscribers, according to research firm FactSet.
Postpaid figures are closely watched as customers who opt for the plan pay a recurring monthly bill and are more valuable to carriers that prepaid users.
T-Mobile US is awaiting approval for its $26.5 billion deal to buy smaller rival Sprint Corp (NYSE: S) as it strives for more scale to compete with bigger rivals such as Verizon Communications Inc (NYSE: VZ) and AT&T Inc (NYSE: T).
The company's net income rose to $939 million, or $1.09 per share, in the quarter, from $782 million, or 92 cents a share, a year earlier.
Analysts had expected the company to earn 97 cents per share, according to IBES data from Refinitiv.
Revenue rose nearly 4% to $10.98 billion, falling short of estimates of $11.13 billion.
(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)