T-Mobile Touts Q3 as Best in a Decade, Sees Options for 800 MHz
T-Mobile’s Q3 2024 was the company’s “best Q3 in a decade,” said CEO Mike Sievert on an earnings call Wednesday. The company recorded the highest number of new postpaid phone subscribers for Q3 in 10 years, and also showed the…
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lowest Q3 postpaid phone churn in T-Mobile’s history, executives said on the call. The company reported $16.7 billion in total service revenue in Q3, a 5% increase over the same quarter in 2023. CFO Peter Osvaldik said the carrier expects a “trough” in 2025 from the loss of the affordable connectivity program and Tracfone's transition to Verizon. However, he also said Q4 sales will likely top Q3's due to “holiday seasonality.” Asked about T-Mobile’s plans for supplemental coverage from space, Sievert said the company tested the service through a grant of special temporary authority during the recent hurricanes in Florida and North Carolina. The tech will be “off to the races soon,” Sievert said. Executives said the company had “optionality” for its 800 MHz spectrum. T-Mobile sought to auction off that spectrum earlier this year but didn’t receive qualifying bids. The spectrum isn’t currently part of its financial predictions or spectrum plan, Sievert said. DOJ gave T-Mobile’s proposed purchases of Lumos and Metronet the nod, but it awaits FCC approval, said General Counsel Mark Nelson. T-Mobile’s purchase of U.S. Cellular isn’t as far along, but Nelson said all three deals are expected to close in 2025.