Quarterly figures: T-Mobile US reports leap in profit and strong customer growth

Quarterly figures: T-Mobile US reports leap in profit and strong customer growth

T-Mobile US presented good quarterly results that exceeded Wall Street’s expectations. Nevertheless, the share initially fell after the trading day.

The Telekom subsidiary T-Mobile US gained many new customers in the second quarter and increased profits significantly. The bottom line was that the company earned $ 978 million (823 million euros), as it announced after the US market closed.

The surplus was almost eight times as high as a year ago, when the balance sheet suffered heavily from high costs due to the merger with US rival Sprint and the Corona crisis. The mobile operator increased its revenues by 13 percent to $ 20 billion.

In the three months to the end of June, T-Mobile booked a net 627,000 new telephone contracts under its own brand, thus significantly exceeding the analysts’ expectations. The company raised its annual targets again after the strong quarter and now expects growth of up to 5.3 million customers for 2021. Previously, the forecast was a maximum of 4.9 million. Although the quarterly figures exceeded the expectations of the experts from Wall Street, the stock initially lost more than two percent after the hours.

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