T-Mobile adds 1 million phone subscribers in fourth quarter

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Reuters
Last Updated : Jan 09 2019 | 8:15 PM IST

(Reuters) - T-Mobile US Inc said on Wednesday it added 1 million net new monthly bill paying phone subscribers in the fourth quarter.

The company's shares were up about 1.5 percent at $68.79 in trading before the bell.

Last month, T Mobile won backing from two national security reviews for its deal to buy smaller rival Sprint Corp as it strives for more scale to compete with Verizon Communications Inc and AT&T Inc.

The report on subscriber numbers comes a day after Verizon beat Wall Street estimates for net new phone subscribers who pay a monthly bill, adding 650,000 customers in the fourth quarter.

In the quarter ended Sept. 30, T-Mobile exceeded analysts' estimates for net new phone subscribers and profit, driven by its competitive wireless plans and trade-in offers for iPhones aimed at fending off its bigger rivals.

(Reporting by Akanksha Rana in Bengaluru; Editing by James Emmanuel and Shounak Dasgupta)

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First Published: Jan 09 2019 | 8:07 PM IST

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