claimed Thursday it had become the second-largest cellular carrier in the United States, ahead of AT&T Inc (NYSE: T).” data-reactid=”19″>T-Mobile US, Inc (NASDAQ: TMUS) claimed Thursday it had become the second-largest cellular carrier in the United States, ahead of AT&T Inc (NYSE: T).
T-Mobile Claims Number Two Spot
The Washington-based cellphone carrier said it had 98.3 million total customers at the end of the second quarter this year.
T-Mobile added a net of 253,000 postpaid and 133,000 prepaid customers in 2020 Q2. Net customer additions stood at 1.24 million, mostly unchanged from the similar quarter last year.
reported.” data-reactid=”27″>CEO Mike Sievert said during the earnings call Thursday that the company was “staring down Verizon” with its “sight set on the No. 1 spot,” the Wall Street Journal reported.
View more earnings on TMUS” data-reactid=”28″>View more earnings on TMUS
VZ) had 119.9 million wireless connections at the end of June, the Journal noted.
Q2 Results Show 61% Increase in Revenue
The cellular firm realized total revenue of $17.67 billion in the quarter, up about 61.1% year-on-year from the $10.9 billion posted in 2019 Q2.
The earnings per share were at 9 cents, with a total profit of $110 million. This compared with last year’s EPS of $1.09 and profit of $939 million.
Sprint Merger Impact On Numbers
In February, T-Mobile merged with Sprint, combining the country’s third and fourth-largest wireless companies.
The company said merger-related costs amounted to $798 million pre-tax in the quarter, which led to a decline in net income and EPS, along with impact from the pandemic and non-cash impairments.
The adjusted EBITDA rose from $3.5 billion to $7 billion YoY, on account of the merger and addition of customers, along with higher lease revenues included in equipment revenue.
Price Action
T-Mobile shares traded 5.46% higher at $114 in the after-hours session, after it reported the earnings.
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