T-Mobile Leads the Pack in Q3 Postpaid Phone Adds
T-Mobile beat AT&T and Verizon in net postpaid phone adds, adding 854,000 in Q3, the best since the carrier completed its buy of Sprint in 2020. T-Mobile reported total postpaid net account adds of 394,000 and net customer adds of…
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1.6 million, “more than AT&T and Verizon combined.” T-Mobile reported after the close of the U.S. markets. AT&T added a net 708,000 postpaid phone customers in the quarter (see 2210200062), while Verizon lost 189,000 wireless consumer postpaid phone customers (see 2210210060). Postpaid T-Mobile churn was 0.88%. Revenues came in at $19.5 billion, down 0.7% year-over-year, while net income of $504 million was down 26.5% “primarily due to the impacts” in the quarter “associated with merger-related costs of $972 million … and loss related to the anticipated sale of the wireline business of $803 million,” the carrier said. T-Mobile said it has now decommissioned substantially all targeted Sprint macro sites. “Our brand strength for value leadership has never been better,” said CEO Mike Sievert on a call with analysts. “It has long been established that T-Mobile is the 5G leader,” he said: “We’re now seeing that 5G lead translate into overall network leadership. … This is precisely the network evolution that we planned.”