T-Mobile US has once again positioned itself as a leader in the wireless industry with record-breaking results for the third quarter of 2024, achieving the highest Q3 postpaid customer growth in a decade and setting new standards for customer retention.
Q3 Financial Highlights
The company’s postpaid customer base grew by a net of 1.6 million accounts, including 865,000 postpaid phone additions and a record-low churn rate of 0.86% for Q3. Its internet services division also saw significant growth, adding 415,000 high-speed internet customers.
The company’s strong customer growth translated into exceptional financial performance, with service revenues reaching USD 16.7 billion, marking a 5% year-over-year increase.
T-Mobile’s profitability also soared with net income growing by 43% to USD 3.1 billion. The company’s core adjusted EBITDA also surged by 9% to USD 8.2 billion, and net cash from operations reached a record USD 6.1 billion, up 16% from the previous year.
Mike Sievert, CEO of T-Mobile, attributed this success to the company’s strong combination of network capabilities, value-driven customer strategies, and technological leadership. “Results like these prove that our powerful combination of best-in-class network, unmatched value, and innovative experiences for customers is a winning formula,” Sievert said.
T-Mobile's long-term strategy includes approximately USD 80 billion in investments and shareholder returns through 2027, reinforcing its goal of sustained industry leadership.
A 5G Leader
T-Mobile’s advancements in 5G technology continue to set it apart in the market. The company’s standalone 5G core now supports Voice over New Radio (VoNR) coverage across the U.S., enhancing call quality and lowering latency for a seamless customer experience. Its Customer-Driven-Coverage model also leverages AI to prioritize network improvements based on real customer data, ensuring investments align with user needs.
In line with its smart city initiatives, T-Mobile’s Advanced Network Solutions is partnering with Miller Electric in Jacksonville to operate a 5G network for autonomous shuttle services, boosting transportation technology along a 3-mile city stretch. The company also recently extended its 5G services across 11 rural California fairgrounds to support emergency response and provide public Wi-Fi access.
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