John Legere also gave us an update on T-Mobile Tuesdays today, reporting that the app has been downloaded almost five million times and that there have been eight million clicks to redeem offers.
T-Mobile added 1.9 million customers, net of customer defections. The carrier also upgraded its forecast for full-year customer acquisition. The carrier's net income of $225 million, however, is down from $361 million in the same quarter one year ago.
Shares T-Mobile, up 14% for the year, were up 11 cents at $45.09 in recent trading.
T-Mobile reported solid second quarter financial results Wednesday driven by continued customer growth. Craig Moffett of MoffettNathanson said subscriber results were strong for the quarter. T-Mobile said its recent deals to buy more 700 MHz A-Block spectrum licenses will boost its coverage from 210 million POPs to 269 million POPs. Legere quipped the figure compared more than favorably with the 790 ranking of Verizon's go90 app. Verizon Communications Inc. added just 86,000 phones while Sprint Corp. took on 173,000 new mainstream phone customers with a strategy of deep discounting. At the end of the June quarter, the Un-carrier said 95 percent of its postpaid customer base was on a Simple Choice plan, up from 93 percent the year prior.
T-Mobile (NASDAQ:TMUS) is rebounding strong, up 1.5% after setting new 52-week highs this morning on Q2 results with revenues and user gains way up.
For the full year, however, the company remained bullish on that metric - raised its guidance for branded postpaid net additions to a range of 3.4 to 3.8 million, from the previous range of 3.2 million to 3.6 million. In the quarter, total mainstream net adds, including tablets and other devices, were 890,000.
Revenue rose 12.8 percent to $9.22 billion, beating the average estimate of $9.03 billion. Diluted earnings per share were 25 cents for Q2, which is down from 42 cents a share a year ago, primarily due to higher interest expenses and lower interest income in the quarter as well as other factors.