T-Mobile US reported first quarter earnings that surpassed expectations. The wireless solutions company also raised its forecast for net additions over the full year.
The company’s diluted earnings for the three months ending in March fell -23% from the year-ago quarter to 57 cents per share, but well ahead of the Street consensus forecast of 33 cents per share.
Revenues rose +1.8% to $20.12 billion. Net customer additions was 1.3 million, the best quarterly gain in eight years, including 589,000 post-paid additions.
For 2022 financial year, T-Mobile expects net customer additions of between 5.3 million and 5.8 million, up from a prior projection of 5 to 5.5 million.