Shares of T-Mobile (TMUS) are up 2% after the U.S. telecommunications company reported third-quarter financial results and wireless subscriber additions that beat Wall Street forecasts.
T-Mobile announced earnings per share (EPS) of $2.61 U.S., which was ahead of the $2.45 U.S. expected among analysts who track the company’s progress.
Revenue of $20.16 billion U.S. topped consensus forecasts of $20.02 billion U.S.
T-Mobile also reported strong quarterly wireless subscriber additions as more people choose its discount plans that include popular streaming services such as Netflix (NFLX).
The company said that it added 865,000 postpaid phone customers in the year’s third quarter, surpassing estimates of 727,500 additions, according to data from FactSet.
Looking ahead, T-Mobile lifted its forward guidance, saying it now expects full-year postpaid net customer additions of 5.6 million to 5.8 million, up from an earlier estimate of 5.4 million to 5.7 million.
Management attributed the strong growth and outlook to its high-speed 5G wireless plans, which are proving to be popular with American consumers.
Before today (Oct. 24), the stock of T-Mobile had risen 37% year-to-date and was trading at $220.95 U.S. per share.
