T-Mobile has managed to add more than a million net subscribers. The wireless carrier has just released its latest quarterly report, registering additions of 1.1 million total net subscribers during the first quarter of 2017, marking four consecutive years that it has gained at least 1 million customers every three months. The company also recorded service revenue of $7.3 billion, which represents an 11 percent improvement year-over-year. Moreover, it also posted a record postpaid customer turnover rate of just 1.18 percent, which is down 15 basis points compared to Q1 2016, and better than the 1.26 percent churn rate projected by analysts.
T-Mobile also increased its guidance range for branded postpaid net customer additions for the rest of 2017 from 2.4 million to 3.4 million, to 2.8 million to 3.5 million. After the mobile operator released its quarterly earnings report, it saw its share increase 1.9 percent Monday afternoon.
In terms of postpaid phone net additions, T-Mobile was able to gain 798,000 new activations, a significantly higher figure compared to the 725,000 activations predicted by analysts. The 386,000 branded prepaid net additions it recorded for the first quarter of this year, however, failed to meet analysts’ projections.
The wireless carrier managed to record total revenues of $9.6 billion, which not only beat analyst projections but also represents an 11 percent improvement over to the total revenues it registered during the first quarter of last year. Much more impressive is the $698 million net income it posted in Q1 2017, which is up 46 percent compared to Q1 2016.
In its latest quarterly report, T-Mobile also revealed that during the Federal Communication Commission’s recent incentive auction, the carrier had managed to acquire 45 percent of the airwaves auctioned in the event. The company is expecting that no less than 10 MHz covering over 1 million square miles will be clear sometime this year. T-Mobile is looking to roll out service on the airwaves it acquired later in 2017, with mobile devices coming to market by the time the holiday season starts.