T-Mobile Adds More Subscribers Than Rivals
T-Mobile continued industry-leading growth in Q1, adding 1.4 million customers, including 773,000 postpaid phone net adds. Both were down from last quarter, in which 1.7 million new customers and 794,000 phones were added. Postpaid churn was 0.98%. Revenue rose 78%…
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over the same quarter last year to $19.8 billion, with $933 million in profit, down slightly. Customers are switching to T-Mobile as it’s increasingly perceived as having the best 5G network, with gains among “prime” and “most discriminating” consumers, CEO Mike Sievert told analysts. “We’re really starting to pull away from the pack like we told you we would,” he said: “Consumers and businesses are taking notice.” Its extended range 5G “covers 295 million people across 1.6 million square miles, 4x more than Verizon and 2x more than AT&T,” T-Mobile said. Its faster 5G offering covers 140 million, with projections of 200 million by Dec. 31. “We’re tracking ahead of schedule,” Sievert said. Half of Sprint customer traffic and 20% of Sprint customers are on the T-Mobile network, the carrier said. T-Mobile said it now expects $2.8-$3.1 billion in 2021 synergies as a result of buying Sprint. T-Mobile executives were together for the call as workers “gradually and safely” are returning in-person, Sievert said.