T-Mobile’s Q2 2020 earnings are in, and they show that T-Mo hit a major milestone during the quarter.
T-Mobile says that it added a total of 1.245 million customers in Q2 2020, including 1.1 million postpaid subscribers and 133,000 prepaid customers. T-Mo touts that this is the 22nd straight quarter that it’s led the wireless industry in new customers added.
At the end of Q2 2020, T-Mobile had a total of 98.3 million subscribers. That’s enough to pass AT&T when looking at total branded customers. AT&T recently reported that it had 93 million postpaid and prepaid wireless customers at the end of Q2 2020.
T-Mobile’s revenues for the quarter finished at $17.7 billion, up from $11 billion in Q2 2019. Total service revenues grew year-over-year, too, to finish at $13.2 billion for Q2 2020. Net income for the quarter was $110 million.
Switching over to the network side of things, T-Mobile revealed today that its 2.5GHz 5G coverage is now live in three more cities: Atlanta, Dallas, and Washington DC. There are now eight total markets with T-Mo’s 2.5GHz 5G, with the other five being Chicago, Houston, Los Angeles, Philadelphia, and New York City.
During today’s Q2 2020 earnings call, T-Mobile CEO Mike Sievert teased that 2.5GHz 5G will be available in thousands of cities and towns by the end of this year.
T-Mobile also confirmed today that it completed the 600MHz spectrum clearing process in Q2 2020, enabling all of its remaining 600MHz spectrum for future deployment.
Another bit of network news revealed today is that in Q2 2020, T-Mobile entered into a three-year agreement with Columbia Capital to lease between 10 and 30MHz of 600MHz spectrum. This spectrum is in major markets like St. Louis, San Francisco, Seattle, Philadelphia, Chicago, Boston, and Los Angeles. This will allow T-Mobile to continue with the capacity deployed during the period that the Keep America Connected Pledge was in place.
In total, T-Mobile reports that its 5G network covered more than 75% of the US population at the end of Q2 2020. That includes more than 7,500 cities and towns.
T-Mo has shared some notable stats about Sprint customers, too. T-Mobile says that 85% of Sprint’s postpaid phone customers have a device that’s compatible with the T-Mobile network. As of Q2 2020, more than 10% of Sprint’s postpaid customer traffic had been moved to T-Mobile’s network and site decommissioning has begun.