T-Mobile adds another 1.1M customers, quarterly profits surge 48% to nearly $700M

T-Mobile reports net income of $698M, up 46% YoY, and says it gained 914K post-paid customers in Q1, amid Verizon's loss of 289K post-paid customers 

T-Mobile US, Inc. (NASDAQ: TMUS) celebrates its 4th year as a public company with another incredible quarter where it expects to lead the industry in customer and financial growth. In addition, the 600 MHz auction results represent a major milestone for T-Mobile, enabling the Un-carrier to bring real choice and competition to wireless customers in every part of the United States.

In Q1 2017, we added 1.1 million total customers, marking four straight years of adding more than 1 million every quarter. In addition, we added 798,000 branded postpaid phone customers in the quarter and expect to capture over 250% of the industry's postpaid phone growth. The continued success at MetroPCS, the industry’s #1 prepaid brand, helped deliver 386,000 prepaid net additions. As result of the strong customer growth, we grew service revenues by 11% year-over-year in Q1 2017, in a quarter where all of our peers are expected to show declines. This level of consistent outperformance continues to distinguish T-Mobile from the competition, and our outlook for 2017 shows that we plan to continue producing strong customer and financial growth.

"We’ve been beating up on the competition for over 4 years now while making wireless better for consumers," said John Legere, President and CEO of T-Mobile. "Q1 was no different with T-Mobile again producing the best customer and financial growth in the industry. Add to that our recent success in the 600 MHz spectrum auction and it’s clear we’re just getting started!"

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