T-Mobile released the results of their Q2 2016 earnings. And these results show that T-Mo had another steady quarter.
Based on the results, the Un-Carrier was able to add 1.9 million customers in the second quarter of the year. The results from this quarter marks the 13th consecutive quarter where T-Mobile has been able to add over 1 million customers. The number is falls short of reaching a total of 2 million new customers but still, 1.9 million in three months is pretty impressive.
From the 1.9 million, T-Mobile was able to add 890,000 to branded postpaid services and 476,000 to branded prepaid. The churn rate for branded postpaid was 1.27 percent, which is less than the 1.32 percent from last year's quarter results. Meanwhile, the carrier was able to sell and lease 8.9 million devices during the quarter; 8.1 million of which are smartphones.
T-Mobile closed Q2 2016 with a total of 67.4 million customers, a number that has gone up from Q2 2015's 58.9 million customers.
As for its financial figures, T-Mobile was able to bring in a revenue of $9.2 billion, an increase from Q2 2015's $8.2 billion. The net income however, dropped to $225 million from last year's $361 million.
Speaking on behalf of its network, T-Mobile shares that their 4G LTE service now manages to reach 311 million people, a number that has increased from the 308 million in Q1 2016 and 290 million in Q2 2015. Extended Range LTE has grown to over 200 million POPs in 350 markets, while Wideband LTE has a reach of 224 million people. According to T-Mobile, VoLTE calls now cover 57 percent of total voice call minutes, an increase of 16 percent from Q2 2015.
T-Mobile has agreed to acquire 700MHz A-Block spectrum in the Q1 and Q2 2016. With this spectrum, T-Mo will have a wider reach thanks to the 59 million POPs that include cities like Salt Lake City, Chicago, Nashville, and Columbus. The agreement is expected to close by the second part of the year. Afterwards, the carrier intends to roll out an extra 700MHz sites in Phoenix, Las Vegas, San Diego, and San Francisco.
As for T-Mobile Tuesdays, CEO John Legere announced that the app has obtained almost five million downloads. Legere shares that the app has received eight million clicks to redeem the offers they made available.
To further discuss its earnings, T-Mobile has set a call today at 10:30 AM ET.