T-Mobile US reported Q1 service revenues of $15.5 billion, up 3% year-over-year, including postpaid service revenue growth of 6% year-over-year.
Net income of $1.9 billion grew 172% year-over-year and diluted earnings per share (“EPS”) of $1.58 grew 177% year-over-year.
“T-Mobile’s focused execution against our intentional growth plan delivered best-in-class postpaid and broadband customer and profitability growth in Q1 that gave us confidence to raise our 2023 guidance for customers and profitability,” said T-Mobile CEO Mike Sievert.
Some highlights:
- Postpaid net account additions of 287 thousand decreased 61 thousand year-over-year, reflecting continued industry-leading share of net account additions in an environment of industry growth normalization toward pre-pandemic levels.
- Postpaid net customer additions of 1.3 million decreased 25 thousand year-over-year, reflecting continued normalization of industry growth.
- Postpaid phone net customer additions of 538 thousand decreased 51 thousand year-over-year while reflecting a higher share of industry net additions. Postpaid phone churn of 0.89% improved 4 bps year-over-year.
- Prepaid net customer additions of 26 thousand decreased 36 thousand year-over-year, and Prepaid churn was 2.76%.
- High Speed Internet net customer additions of 523 thousand increased 185 thousand year-over-year. T-Mobile ended the quarter with 3.2 million High Speed Internet customers.
- Total net customer additions of 1.3 million decreased 61 thousand year-over-year. The total customer count increased to a record high of 114.9 million.
