T-Mobile US announced additions of 394,00 postpaid net account additions in Q3 2022, a new record for the company. Postpaid phone churn was a low of 0.88%. The company also reported 578,000 High Speed Internet net customer additions. As a result, T-Mobile US raised its 2022 guidance for the third consecutive quarter.
“We’ve always said our aspiration was to be the first and only provider to offer customers both the best network and the best value without having to sacrifice one for the other — and based on another set of standout customer and financial results for Q3, it’s clear we’re delivering on that promise,” said Mike Sievert, CEO of T-Mobile. “On the heels of our highest ever postpaid account net additions and industry-leading postpaid and broadband customer growth, we are raising guidance for the third time this year. Our Un-carrier playbook continues to win in this ever-changing competitive and macro-economic climate and our momentum is only getting stronger.”
Highlights
- Service revenues of $15.4 billion grew 4% year-over-year, including industry-leading Postpaid service revenue growth of 7%
- Net income of $508 million and diluted earnings per share (“EPS”) of $0.40 decreased year-over-year primarily due to merger-related costs and loss related to the anticipated sale of the wireline business amounting to a combined impact of $1.8 billion, net of tax, or $1.41 per share
- Postpaid net account additions of 394 thousand increased 126 thousand year-over-year.
- Postpaid net customer additions of 1.6 million increased 368 thousand year-over-year.
- Postpaid phone net customer additions of 854 thousand increased 181 thousand year-over-year, leading the industry for the first time since Q1 2021. Postpaid phone churn of 0.88% improved by 8 basis points year-over-year.
- Prepaid net customer additions of 105 thousand increased 39 thousand year-over-year. Prepaid churn of 2.88% improved by 2 basis points year-over-year.
- High Speed Internet net customer additions of 578 thousand were a record high, and T-Mobile ended the quarter with over 2.1 million High Speed Internet customers.
- Total net customer additions of 1.7 million increased 407 thousand year-over-year and the total customer count increased to a record high of nearly 112 million.