(Reuters) – Wireless carrier T-Mobile US on Thursday forecast monthly bill-paying phone subscriber growth for the year above estimates, banking on its wide 5G coverage and promotional offers to draw in consumers.
The company expects to add 5 million to 5.5 million subscribers in the full year 2024, beating Wall Street expectations of 2.67 million, according to FactSet.
T-Mobile added 934,000 in the October-December quarter, also above expectation of 877,900, according to FactSet, and higher than rivals AT&T and Verizon for the same period.
The wireless carrier is attracting subscribers on the back of its wide 5G network footprint and competitive offers at a time when growth in the U.S. telecom market is tapering.
In the fourth quarter, T-Mobile’s total service revenue fell 1.3% to $20.48 billion, higher than estimates of $19.64 billion, according to LSEG.
The company’s earnings per share were a higher-than-expected $1.67 for the quarter.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna Chandra Eluri)
Comments