Today T-Mobile reported its earnings for the third quarter of 2020, and T-Mo managed to reach a big milestone.
T-Mobile reports that it added 2.035 million new customers in Q3 2020, which is up from the 1.14 million customers that T-Mobile added in the year-ago quarter. This also means that T-Mo surpassed the 100 million customer milestone in Q3 2020, finishing the quarter with a total of 100.36 million total subscribers.
Of the 2.035 million customers that T-Mobile added in Q3 2020, 1.979 million were postpaid subscribers and 56,000 were prepaid.
T-Mobile earned $19.27 billion in total revenues for the quarter, up from $11.06 billion in Q3 2019. Service revenues for the quarter grew year-over-year to finish at $14.14 billion. And net income grew, too, to finish at $1.25 billion for the quarter.
When it comes to its network, T-Mo says that its 5G covered more than 270 million people in 8,300 cities and towns at the end of Q3 2020. That coverage is expected to grow to 280 million people by the end of 2020 and 300 million people by the end of 2021.
T-Mo is also working to bring its mid-band 5G coverage to more people. Mid-band 5G was available to more than 30 million people in 400 cities at the end of Q3 2020, and T-Mobile is planning to have mid-band 5G available to 100 million people and more than 1,000 cities by the end of 2020.
T-Mobile also gave an update on its integration with Sprint today, saying that 15% of Sprint’s postpaid traffic is currently carried on the T-Mobile network. Additionally, 85% of Sprint postpaid customers have phones that are compatible with the T-Mobile network today.