T-Mobile Beats Expectations on Earnings, Now Has More Than 67 Million Customers

SEATTLE (The Seattle Times/TNS) -

T-Mobile added 1.9 million customers during its second quarter, bringing its total number of customers to more than 67 million.

The Seattle-area telecom reported profit of $225 million on revenue of $9.2 billion for the quarter, beating analyst expectations and sending the stock price up more than 1 percent to about $45.72 during trading Wednesday. Revenue increased 12.8 percent from the same period a year ago, but profit fell from $361 million in the second quarter of 2015.

The company attributed the profit decline to higher interest expenses.

Wall Street analysts expected revenue of $9.03 billion for the quarter. T-Mobile’s earnings per share of $0.25 beat expectations by 3 cents.

T-Mobile has made a name for itself from frequent and often in-your-face campaigns to convince people to switch from their current carrier and join T-Mobile. T-Mobile still lags behind larger telecoms AT&T and Verizon, but is gaining ground.

Verizon, which announced a deal to acquire Yahoo this week, disappointed investors this week with second-quarter results that showed slowing revenue and subscriber growth.