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COMCAST CORPORATION

(CMCSA)
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T-Mobile profit nearly triples as 2.1 million subscribers added

02/17/2016 | 10:04am EDT
People pass by a T-Mobile store in the Brooklyn borough of New York

(Reuters) - T-Mobile US Inc (>> T-Mobile Us Inc) nearly tripled its profit in the fourth quarter as lower- priced plans and free video streaming helped it add more than 2 million subscribers.

(Reuters) - T-Mobile US Inc (>> T-Mobile Us Inc) nearly tripled its profit in the fourth quarter as lower- priced plans and free video streaming helped it add more than 2 million subscribers.

Net income jumped to $297 million, or 34 cents per share, in the quarter from $101 million, or 12 cents per share, a year earlier. This surpassed the average analyst estimate of earnings of 15 cents per share, and the company's shares rose nearly 3 percent in morning trade.

Total revenue rose 1.1 percent to $8.25 billion, beating the average analyst estimate of $8.20 billion.

To lure customers from rivals Verizon Communications Inc (>> Verizon Communications Inc.) and AT&T Inc (>> AT&T Inc.), the No. 3 U.S. wireless provider T-Mobile has launched promotions like data rollover offers and lower-priced phone leasing plans in recent months.

In November, the Bellevue, Washington-based company launched a new service "Binge On" in November to give customers the option to stream video from services such as Netflix Inc (>> Netflix, Inc.), on their mobile devices without having it count against their data plans.

T-Mobile added a net 2.1 million customers, including 1.3 million new monthly or postpaid customers in the three months ended Dec. 31. In 2016, it said it expects to add a net 2.4 million to 3.4 million postpaid customers, compared with the 4.5 million it added in 2015.

"Subscriber growth continues to be solid," MoffettNathanson analyst Craig Moffett said in a research note.

The company's average revenue per postpaid user (ARPU) fell marginally to $48.05 in the fourth quarter from $48.26 a year earlier, beating the $46.97 forecast by analysts polled by market research firm FactSet StreetAccount.

"T-Mobile was the only operator to not disappoint on ARPU, the monthly phone payments of its customers," BTIG Research analyst Walter Piecyk said.

To upgrade its network, the company plans to invest up to $10 billion to buy low-frequency airwaves in a U.S. government auction that starts on March 29. In addition to its bigger rivals Verizon and AT&T, it will go up against with Comcast Corp (>> Comcast Corporation) and Silicon Valley investment firm Social Capital that have filed to participate in the auction.

T-Mobile shares, which fell about 7 percent this year through Tuesday, were up 2.7 percent to $37.44 in Wednesday morning trade.

(Reporting by Malathi Nayak in New York and Anya George Tharakan in Bengaluru; Editing by Don Sebastian and W Simon)

By Malathi Nayak and Anya George Tharakan


© Reuters 2016
Stocks mentioned in the article
ChangeLast1st jan.
AT&T INC. 0.50% 28.15 Delayed Quote.-2.12%
COMCAST CORPORATION 0.99% 58.36 Delayed Quote.10.29%
NETFLIX, INC. 0.71% 515.41 Delayed Quote.-4.68%
T-MOBILE US -0.52% 144 Delayed Quote.6.79%
VERIZON COMMUNICATIONS -0.13% 55.88 Delayed Quote.-4.77%
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Financials (USD)
Sales 2021 113 B - -
Net income 2021 12 261 M - -
Net Debt 2021 87 082 M - -
P/E ratio 2021 22,2x
Yield 2021 1,70%
Capitalization 268 B 268 B -
EV / Sales 2021 3,14x
EV / Sales 2022 2,91x
Nbr of Employees 168 000
Free-Float 83,2%
Chart COMCAST CORPORATION
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Comcast Corporation Technical Analysis Chart | CMCSA | US20030N1019 | MarketScreener
Technical analysis trends COMCAST CORPORATION
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 37
Last Close Price 58,36 $
Average target price 64,87 $
Spread / Average Target 11,2%
EPS Revisions
Managers and Directors
Brian L. Roberts Chairman, President & Chief Executive Officer
Michael J. Cavanagh Chief Financial Officer
Jeff Votaw Vice President-Engineering
Candy Lawson Chief Compliance Officer & Senior Vice President
Karen Dougherty Buchholz Executive Vice President-Administration
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