By Kelly Cloonan
T-Mobile US logged higher profit and revenue in the first quarter as it continued to add more postpaid phone subscribers than its competitors.
The cell carrier posted a profit of $2.95 billion, up from $2.37 billion in the same quarter a year ago. Earnings were $2.58 a share, up from $2.00 a year ago, and beating analyst estimates for $2.47 a share, according to FactSet.
Revenue rose 7% to $20.89 billion, up from $19.59 billion a year ago. Analysts expected $20.63 billion.
The Bellevue, Wash., company said it added 495,000 postpaid phone subscribers, its most lucrative phone offering where service is paid for each month on a contract.
The figure came in under analyst expectations for 504,900 added postpaid connections, but outpaced rival AT&T's 324,000 in the same period. Verizon lost 289,000 of its postpaid connections in the quarter, worse than its 114,000 postpaid phone net loss in the same period a year ago.
T-Mobile maintained its previous guidance for an additional 5.5 million to 6.0 million additional postpaid net customer additions in 2025.
The company raised its guidance range for adjusted earnings before interest, taxes, depreciation and amortization to $33.2 billion to $33.7 billion from previous guidance of $33.1 billion to $33.6 billion.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 24, 2025 16:20 ET (20:20 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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