Wow! We knew it was going to be a good quarterly result following the Uncarrier 4.0 announcement in January, but we weren’t expecting this. T-Mobile added 2.4 million subscribers to its ranks in Q1. It’s the first time the company has gone over 2 million net additions, and is therefore the companies best ever quarter. T-Mobile now has 49.1 million customers.
Highlights from the first quarter include:
- Total net additions of 2.4 million, first time over 2 million
- 4th consecutive quarter with over 1 million net adds
- It is the fastest growing wireless company in the U.S.
- Branded net additions of 1.8 million, including 1.3 net postpaid adds
- Branded postpaid churn down to 1.5%
Which ever way you look at it, this is an impressive result for T-Mobile. And, while other carriers have reported net subscriber losses (Sprint/Verizon), T-Mobile is continuing to show it’s got what it takes to compete on a quarter-by-quarter basis.
“A year ago I promised that we would bring change to what I called this arrogant US wireless industry. We are delivering on that promise and our results reflect the growing customer revolution that we’ve ignited,” said John Legere, President and CEO of T-Mobile. “We are now approaching 50 million customers, added 2.4 million net new customers in the first quarter alone, and posted our fourth quarter of consecutive service revenue growth, while once again adding more net new postpaid customers than the rest of the industry combined!”
I remember how elated I was when Magenta announced results from its final quarter in 2013, adding over 1.5 million customers, and this has shown that the company is far from done. What’s more, it also shows that – given the opportunity to escape contracts with other carriers – customers are delighted to switch over and try T-Mo out. This marks the first quarter since John Legere announce the ‘Contract Freedom’ phase of the Un-carrier movement in January this year in which T-Mobile offers to pay any ETFs up to $350, and buy old phones back up to a value of $300. And it’s clearly working.
T-Mobile’s conference call to discuss these results is due to kick off in about 3 hours. I’ll be listening in and bringing you my thoughts once it’s done.
But for now, congrats T-Mobile! Way to go.