T-Mobile reports Q1 2020 results, including more than 600,000 customers added
T-Mobile today reported its Q1 2020 earnings, which is notable because this is the last quarter before T-Mo and Sprint closed their merger.
T-Mobile says that during the the first quarter of 2020, it added a total of 649,000 total branded customers, which was the best in the industry. That figure includes 452,000 postpaid phone customers.
Total branded customer adds for the quarter is down from 1.08 million during Q1 2019. That difference was caused by T-Mo adding 242,000 fewer total branded postpaid customers during Q1 2020 as well as a loss of 128,000 branded prepaid customers.
Postpaid phone churn for Q1 2020 finished at 0.86%, down from 0.88% in the year-ago quarter. Prepaid churn fell as well, going from 3.85% in Q1 2019 to 3.52% in Q1 2020. Both of those churn numbers are record lows for Q1.
T-Mobile reports that it had 68.5 million total branded customers at the end of Q1 2020, up from 67.9 million total branded customers in the previous quarter. If you’re wondering why this total figure is lower than the total that T-Mobile reported last quarter, it’s because in its Q1 2020 results, T-Mo isn’t reporting its wholesale customer count like it has in previous quarters.
On the financial side of things, T-Mobile says it pulled in total revenues of $11.11 billion in Q1 2020, up from the $11.08 billion it earned in Q1 2019. Net income for Q1 2020 finished at $951 million, up from $908 million in Q1 2019.
T-Mobile also gave a network update today. T-Mo says that at the end of Q1 2020, it had 5G live in 49 states and Puerto Rico covering 215 million people. The one state that’s missing is Alaska, but T-Mobile plans to deploy 5G coverage there in May 2020.
T-Mo continues to deploy both 4G LTE and 5G on 600MHz. T-Mo says its 600MHz 5G network now covers 215 million people, with coverage going live in the Bay Area this week and more cities going online soon. Meanwhile, its 600MHz LTE covers 269 million people. And when you add 700MHz to that, T-Mo’s low-band LTE covers 318 million people.
In total, T-Mobile’s network reaches 327 million people.
To take a look at T-Mobile’s Q1 2020 results for yourself, hit the link below.