T-Mobile reports Q4 2020 and full-year 2020 earnings
Earlier today, T-Mobile released its Q4 2020 and full year 2020 earnings report. The wireless carrier reported industry-leading total net additions and strong net additions for the postpaid and prepaid market for both Q4 and the whole 2020.
For starters, the company had 1.7 million total net additions in Q4 2020, which led to an outstanding 5.6 million in the whole 2020. This is the best in industry and highest number in four years. The company added a total of 1.6 million postpaid subscribers in Q4 2020, totalling to 5.5 million in the whole 2020. As previously remarked by T-Mobile, this is the most net addition they’ve had in history. Finally, the company earned 824,000 prepaid phone net additions in Q4 2020, and a total of 2.2 million in the whole 2020.
Ever since its merger with Sprint, T-Mobile has been able to move over 25 percent of Sprint postpaid customers. Over 4 million customer network migrations have also been completed.
Another thing that T-Mobile reported today is its success with its 5G network, which is now remarked as the largest and fastest 5G network in America. Their Extended Range 5G is able to cover 280 million people across 1.6 million square miles, which is almost 4x more than Verizon and almost 2.5x more than AT&T.
Their Ultra Capacity 5G network covers 106 million people, which is over 50x more than the 5G Ultra Wideband network offered by Verizon. T-Mobile expects to cover 200 million people throughout the country before 2021 ends.
Financially, the company had a total revenue of $20.3 billion in Q4 and $68.4 billion throughout the whole year. Their net income was $750 million in Q4 and $3.1 billion in the whole 2020.
With these numbers, T-Mobile CEO Mike Sievert shares that the results “show that we’re pulling way ahead of the pack on what matters — overall 5G network performance — and executing to stay ahead.” The CEO shared that its customers have noticed these improvements and even referred to 2020 as “quite simply our best year yet.”
The CEO attributes their success to how their team was able to deliver. “Best team, best assets, best 5G network.”
To read more about the report, you can visit this page.