T-Mobile released its fourth quarter results late Thursday. Although the company reported mixed results, its CEO remains upbeat. Earnings missed analysts’ estimates while the number of wireless subscribers increased. The numbers topped other telecom leaders such as AT&T and Verizon Communications. The stock rose by 1.1 percent in morning trading on Friday.
According to FactSet, analysts expected T-Mobile to report adjusted earnings of $1.91 per share on revenue of $19.68 billion, while the company reported an earnings per share (EPS) of $1.67. However, the telecom giant reported a one percent increase in net sales year over year to $20.48 billion. Analysts had estimated sales of $19.68 billion.
T-Mobile added 934,000 subscribers for postpaid mobile phone services, while the estimate was 874,000 subscribers. The company also added 541,000 to its wireless home internet business. The company had more subscribers than leaders such as AT&T, with 526,000 subscribers, and Verizon, with 449,000 subscribers.
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The company also guided 2024. It is predicting 5 million to 5.5 million postpaid net customer additions this year. It had added 5.7 million net customers in 2023 but is estimating cautiously for 2024.
T-Mobile also said it expects an increase of 2 percent in average revenue per user (ARPU).
Mike Sievert, President and CEO of T-Mobile, was on an earnings call to discuss the fourth quarter and full year 2023 and to deliver forward-looking statements. He said that he was speaking from Bellevue, Washington. He told of “accelerating 5G investment” in the U.S. and more.
Sievert also mentioned a “groundbreaking alliance with SpaceX” and said that T-Mobile would be testing “direct satellite to cellular communications” and more. He also spoke of “achieving zero emissions” across their “entire carbon footprint by 2040.”
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