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MarketScreener Homepage  >  Equities  >  Nasdaq  >  T-Mobile US    TMUS

T-MOBILE US

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T Mobile US : Mobile Overakes A& o Become No. 2 Carrier

08/06/2020 | 05:04pm EST

By Drew FitzGerald

T-Mobile US Inc. said it vaulted ahead of rival AT&T Inc. in the race for wireless customers to become the country's second-largest cellphone carrier.

The Bellevue, Wash., company ended June with 98.3 million U.S. customers, excluding wholesale subscribers on other brands that use its network. AT&T reported 92.9 million prepaid and postpaid customers, a tally that didn't count wholesale accounts or connected devices such as Wi-Fi hotspots and car sensors. T-Mobile included non-phone gadgets like wireless hotspots in its reported customer base.

Despite the different reporting policies, T-Mobile was long expected to climb the wireless rankings after it closed its merger with rival Sprint in April. The merger effort prevailed after a more than two-year battle with regulators and antitrust enforcers that culminated in a federal antitrust trial brought by a coalition of state officials. The transaction created a larger mobile service provider with a market value topping $100 billion controlled by German parent company Deutsche Telekom AG.

"We're staring down Verizon with our sight set on the No. 1 spot," T-Mobile Chief Executive Mike Sievert said Thursday during a videoconference with financial analysts. Verizon Communications Inc. ended June with 119.9 million wireless connections, a figure that also counted smartwatches, tablets, and other machines aside from smartphones.

T-Mobile's second-quarter results showed it also weathered the coronavirus pandemic better than its competitors, adding 253,000 postpaid phone customers during the period. Investors place a higher value on postpaid customers -- who are billed for service after it is rendered -- than on prepaid plans subject to more customer switches.

Overall, T-Mobile reported a second-quarter profit of $110 million, down from $939 million a year earlier before it had acquired Sprint. The result included $798 million of pretax merger costs. Revenue jumped to $17.7 billion, up 61% from about $11 billion a year earlier, when T-Mobile was a stand-alone carrier.

Executives warned investors to expect higher-than-usual costs in the second half, including between $800 million and $1 billion in merger-related expenses. T-Mobile decommissioned the Sprint brand earlier this week and continues to close some of its former competitor's stores while it merges the two companies' networks, a multiyear process.

Write to Drew FitzGerald at andrew.fitzgerald@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
AT&T INC. 0.14% 29.03 Delayed Quote.-25.72%
T-MOBILE US 2.45% 131.9 Delayed Quote.68.20%
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Financials (USD)
Sales 2020 67 840 M - -
Net income 2020 2 770 M - -
Net Debt 2020 67 691 M - -
P/E ratio 2020 52,4x
Yield 2020 -
Capitalization 164 B 164 B -
EV / Sales 2020 3,41x
EV / Sales 2021 2,99x
Nbr of Employees 53 000
Free-Float 47,2%
Chart T-MOBILE US
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T-Mobile US Technical Analysis Chart | TMUS | US8725901040 | MarketScreener
Technical analysis trends T-MOBILE US
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 29
Average target price 146,20 $
Last Close Price 131,90 $
Spread / Highest target 63,0%
Spread / Average Target 10,8%
Spread / Lowest Target -18,1%
EPS Revisions
Managers
NameTitle
G. Michael Sievert President, Chief Executive Officer & Director
Timotheus Höttges Chairman
Peter Osvaldik EVP, Chief Financial & Accounting Officer
Neville R. Ray President-Technology Department
Cody Sanford Executive VP & Chief Information & Product Officer
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