T-Mobile US reported total Q4 2023 service revenues of $16.0 billion, up 3% year-over-year and up 3% year-over-year to $63.2 billion in 2023.
Net income increased 36% year-over-year to $2.0 billion in Q4 2023 and increased 221% year-over-year to $8.3 billion in 2023, which included Merger-related costs, net of tax, of $775 million. Diluted EPS increased year-over-year to $1.67 per share in Q4 2023 and increased year-over-year to $6.93 per share in 2023. Diluted EPS also reflected the impact of 48.8 million shares issued to SoftBank Group in Q4 2023.
“This was a historic year for T-Mobile, with record outcomes across nearly every metric and industry-leading customer results – including our highest share of postpaid phone net adds since the merger and best-in-class growth in service revenues, profitability and cash flow – all while effectively completing the largest, most successful telecom integration in the world,” said Mike Sievert, CEO of T-Mobile. “What’s really exciting is that while we’ve delivered fantastic results, we’ve also got room to run. Thanks to the unmatched value and network leadership that we’ve built, we’re entering a phase of enormous value creation with a plan to deliver sustained customer and financial growth leadership. This is just the beginning of the next chapter for the Un-carrier.”
Some highlights
Postpaid net account additions were 299 thousand in Q4 2023 and 1.3 million in 2023.
Postpaid net customer additions were 1.6 million in Q4 2023 and 5.7 million in 2023.
Postpaid phone net customer additions were 934 thousand in Q4 2023 and 3.1 million in 2023.
Postpaid phone churn was 0.96% in Q4 2023 and 0.87% in 2023. Prepaid net customer additions were 53 thousand in Q4 2023 and 282 thousand in 2023.
Prepaid churn was 2.86% in Q4 2023 and 2023 churn of 2.76% was the lowest in company history.
High Speed Internet net customer additions were 541 thousand in Q4 2023 and 2.1 million in 2023, the highest in company history. T-Mobile ended the year with 4.8 million High Speed Internet customers.
Total net customer additions were 1.6 million in Q4 2023 and 5.9 million in 2023.
Total customer connections increased to a record high of 119.7 million. Postpaid service revenue grew 6% year-over-year in Q4 and 6% year-over-year in 2023.
