T-Mobile US shares were rising on Wednesday, after the telecommunications carrier beat Wall Street’s earnings expectations and issued its best start-of-year guidance ever.

The stock was on course for its best session since February 2022, and was leading the S&P 500 in early trading, climbing 8.7% to $240.31. The benchmark index was down 0.2%.

The surge came after T-Mobile reported fourth-quarter earnings of $2.57 a share, on revenue of $21.87 billion. Analysts surveyed by FactSet were expecting earnings of $2.29 a share on revenue of $21.33 billion.

The company added 1.9 million postpaid net customers over the period, topping the 1.7 million figure analysts had forecast. Its postpaid churn rate—referring to the percentage of customers who switched to other services—of 0.92% was in line with Wall Street estimates.

T-Mobile expects to add 5.5 million to six million net customers in 2025—the highest guidance range it’s ever issued at the start of the year. The midpoint of those figures came in above the 5.4 million net adds analysts had been forecasting.

CFO Peter Osvaldik told Barron’s that the fourth-quarter results were “the capstone on an amazing growth year,” adding that T-Mobile’s expansion strategy for 2025 targeting both long-established markets and rural areas, where he said the company “has a lot of runway” to add more customers.

T-Mobile forecast that its adjusted free cash flow would rise to between $17.3 billion and $18 billion.

The blowout earnings report means that the biggest telecommunications carriers have gone three-for-three this earnings season. Verizon Communications topped Wall Street’s targets last week, and AT&T reported better-than-expected results Monday.

AT&T stock rose 1.4% Wednesday, while Verizon shares were up 0.6%.