Press release
T-Mobile Overtakes AT&T as America’s #2 Wireless Provider and Continues to Deliver Industry-Leading Customer Growth with Strong Financial Results in Q2 2020
BELLEVUE, Wash.--(BUSINESS WIRE)-- T-Mobile US, Inc. (NASDAQ: TMUS): Industry-Leading Customer Growth and Sprint Merger Result in Overtaking AT&T as #2
About this update from T-mobile Us, Inc.
[{"type":"text","content":" BELLEVUE, Wash.--(BUSINESS WIRE)--\nT-Mobile US, Inc. (NASDAQ: TMUS):\n\n\nIndustry-Leading Customer Growth and Sprint Merger Result in Overtaking AT&T as #2 Wireless Provider\n\n\n\n1,245,000 total net additions, best in industry\n\n\n1,112,000 postpaid net additions, best in industry\n\n\n253,000 postpaid phone net additions with postpaid phone churn of 0.80%\n\n\n133,000 prepaid net additions with prepaid churn of 2.81%\n\n\n98.3 million total customers at the end of Q2 2020, 2nd most in industry\n\n\n\nStrong Financial Results in First Quarter as New T-Mobile\n\n\n\nTotal revenues of $17.7 billion and service revenues of $13.2 billion\n\n\nNet income(1) of $110 million and diluted earnings per share (“EPS”) of $0.09\n\n\nAdjusted EBITDA(1) of $7.0 billion\n\n\nNet cash provided by operating activities of $777 million\n\n\nFree Cash Flow, excluding gross payments for the settlement of interest rate swaps(1) related to merger financing of $1.4 billion\n\n\n\nBuilding Transformative Nationwide 5G Network and Delivering Merger Synergies\n\n\n\nAmerica’s largest 5G network covering more than 250 million people across 1.3 million square miles, more than double AT&T’s geographic coverage and exponentially more than Verizon\n\n\nMore than 10 percent of Sprint postpaid customer traffic has already been moved over to the T-Mobile network and site decommissioning has begun\n\n\nAccelerated rationalization of retail stores and organizational redesign to pull forward synergies\n\n\n\n__________________________________________________________\n\n\n\n\n(1)\n\n\n \n\nAdjusted EBITDA and Free Cash Flow are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP Net income including, but not limited to, Income tax expense, stock-based compensation expense and Interest expense. Adjusted EBITDA should not be used to predict Net income as the...