T-Mobile took to the airwaves to announce its quarterly results and they shatter one record after another. Amidst the coronavirus lockdown, T-Mobile managed to beat all of its most important growth metrics, including postpaid additions, churn, revenue and even net income after taxes.
While its profits are still a far cry from what Verizon or AT&T notch each quarters, they are nearing a billion for the first time, and T-Mobile is still in its growth phase where it prioritizes subscriber increase.
The merger with Sprint was also considered a success, with Big Magenta now hot on the heels of the big two, and already showing the first 5G network synergies after the merger, at least in cities like New York, and with phones from the newest Galaxy S20 series. Here's the T-Mobile quarterly breakdown:
T-Mobile reports industry-best subscriber growth
777,000 branded postpaid net additions in Q1 2020, best in industry.
452,000 branded postpaid phone net additions in Q1 2020, best in industry.
649,000 total branded net additions in Q1 2020, best in industry.
Record-low Q1 branded postpaid phone churn of 0.86% in Q1 2020, down 2 bps YoY.
Record-low Q1 branded prepaid churn of 3.52% in Q1 2020, down 33bps YoY.
Record Financial Performance (all percentages year-over-year).
Record revenue and cash profits for T-Mobile in Q1
Record T-Mobile service revenues of $8.7 billion, up 5% in Q1 2020, with branded postpaid service revenues up 7%.
Record Q1 Net income of $951 million, up 5% in Q1 2020.
Record Q1 Diluted earnings per share (“EPS”) of $1.10, up 4% in Q1 2020.
Record Adjusted EBITDA(1) of $3.7 billion, up 12% in Q1 2020.
Record Q1 Net cash provided by operating activities of $1.6 billion, up 16% in Q1 2020.
Record Q1 Free Cash Flow(1) of $732 million, up 18% in Q1 2020.