T-mobile Inc. America’s Un-Carrier has recorded 100 million customers milestone in the third quarter of 2020. The company delivered industry-best results in total customer net additions, postpaid net additions, and postpaid phone net additions while simultaneously delivering net income and adjusted EBITDA growth.
T-Mobile has added over 2 million new customers for the Q3 of which, 1.98 million were postpaid net additions. The company also added 689,000 postpaid phone users. Postpaid other net customer additions were 1,290,000 nearly doubling Verizon and AT &T combined. While also adding 56,000 prepaid customers.
The company projects to cover 200 million people on its platform by the end of 2021. It also expects to raise its second half of 2020 guidance for profitability and cash flow and deliver more than $1.2 billion of synergies in 2020.
T-Mobile says, its low-band nationwide 5G network now covers 270 million people with the company’s faster mid-band network now available to 30 million people.
Since closing its merger with Sprint seven months ago, T-Mobile has been driving hard on integration. Including unifying employees and customers under one brand, rapidly improving the Sprint customer experience. And quickly rolling out 2.5 GHz spectrum to build the world’s best 5G network. The company expects to deliver more than $1.2 billion of synergies in 2020.
“Last quarter T-Mobile overtook AT&T to become #2 in U.S. wireless. And today we announced our highest ever postpaid net adds. Now, with over 100 million wireless customers and America’s largest 5G network. There is no doubt that we’re the growth leader in wireless,” said Mike Sievert, T-Mobile CEO.
“Customers are choosing T-Mobile in record numbers because we are the only ones that can deliver this combination of value and experience with a true 5G network that is available to customers in every single state! We’re consistently and profitably outpacing the competition – and we’re just getting started!”he said.
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Also, the company’s total service revenues increased year-over-year to $14.1 billion in Q3 2020, driven by the Sprint merger and continued customer growth.
T-Mobile remains highly confident in its ability to deliver $43 billion of synergies. And achieve the $6 billion of annualized savings from the sprint merger from a combination of cost avoidance and expense reductions.
