T-Mobile Customers Grow; Competitors Catching Up
Against strong Q2s from rivals, T-Mobile reported adding a net 1.3 million wireless connections, which it said led industry, and 627,000 postpaid phones. Postpaid adds were below the nearly 800,000 by AT&T (see 2107220058) but above Verizon’s 197,000 (see 2107210054).…
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T-Mobile reported 76,000 prepaid net adds. T-Mobile emphasized its “consistent and profitable customer growth.” T-Mobile said one-third of Sprint customers have moved to its network. “We have a lot of work left to do” on integration, said CEO Mike Sievert. Analyst reports show “T-Mobile customers get the fastest 5G speeds and spend the most time connected to 5G,” Sievert said. T-Mobile plans to increase its network by another 100 MHz by year-end “about what AT&T and Verizon will light up sometime next year with C band, combined,” he said. “We have a massive lead” on spectrum, said President-Technology Neville Ray. “That lead is there and it’s durable.” Revenue of $20 billion was up 13%. Postpaid churn was 0.87%. Sievert said the net effect of Dish Network’s network deal with AT&T (see 2107190003) is still to be seen. T-Mobile’s five-year plan factored in rapid declines for Dish revenues” though “it could go a little faster than we had thought,” he said. “We like and respect the Dish team and we’re here for them.” T-Mobile took Dish “at their word that they would build a facilities-based network and vacate ours as fast as possible,” he said. To the extent Dish’s departure opens up network capacity, T-Mobile can use it for its home broadband, he said: “There’s an opportunity to go faster.”