T-Mobile made analyst estimates for the first quarter of 2021, as the company continued to add customers and build its 5G network.
The nation’s second-largest carrier on Tuesday reported earnings per share of 74 cents on revenue of approximately $ 19.8 billion. Analysts were expecting earnings per share of 57 cents and revenue of $ 18.9 billion, according to Yahoo Finance.
The carrier added 1.4 million subscribers, with 1.2 million postpaid net. In that postpaid group, there were 773,000 phone subscribers. Postpaid customers, who pay at the end of the month, are more valued by the investment community as a key metric for wireless carrier success.
First quarter results for the company come close to 2020It added 824,000 phone subscribers in the fourth quarter. T-Mobile now has 103.4 million subscribers, as it continues to grow after a busy year that saw the company transition to Mike Cyver as CEO and to complete its merger with Sprint.
T-Mobile is working to move customers from Sprint’s old network. Last month it, And carriers now say that about 50 percent of Sprint customer traffic has been transferred to T-Mobile’s network, while about 20 percent of Sprint users have moved to T-Mobile’s network.
The carrier says the merger is now expected to bring more synergy, increasing the 2021 guidance to between $ 2.8 billion to $ 3.1 billion. The company previously expected synergies from $ 2.7 billion to $ 3.0 billion.
In addition to providing updated financials, T-Mobile says that its “extended range” 5G low-band network now covers 295 million people, while its fast midband 5G offer (called “Ultra Capacity 5G”) 140 Reaches million people. The carrier has stated that it plans to cover 200 million people by the end of 2021 with the midband 5G.