By Dean Seal
T-Mobile U.S. shares surged Wednesday after the wireless company reported it added nearly twice as many subscribers as its competitors did in the fourth quarter.
The company said it added 903,000 postpaid phone subscribers. These are the most lucrative phone connections, where service is paid for each month on a contract.
The figure topped Wall Street expectations for 858,500 connections and outpaced equivalent gains of 568,000 at Verizon, and 482,000 at AT&T, in the last three months of 2024.
T-Mobile forecast more gains ahead. It expects to add 5.5 million to 6 million postpaid connections in 2025, the highest guidance it has ever given at the beginning of a fiscal year.
-- Quarterly earnings were $2.57 a share, beating analyst estimates for $2.29 a share, according to FactSet.
-- Revenue rose 6.8% to $21.87 billion. Analysts surveyed by FactSet had been expecting $21.33 billion.
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(END) Dow Jones Newswires
January 29, 2025 08:17 ET (13:17 GMT)
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