After the number of recognitions it recently received, it’s no surprise that T-Mobile was able to see impressive results in the first half of 2021. Today, the company revealed its earnings for the first half of the year.
In its report, T-Mo announced that they were able to see profitable growth and industry-best postpaid net customer additions, service revenue growth and churn improvement during the period covered. T-Mobile reported this as their second “beat and raise” quarter. And as T-Mobile continues to expand its network, this also unlocks huge growth opportunities in rural areas and smaller markets, also in the enterprise and government space.
Some of the highlights of the report include the following:
- Postpaid net additions of 1.3 million, best in industry and raising 2021 guidance
- Postpaid account net additions of 349 thousand, best in industry and record-high
- Total revenues of $20.0 billion grew 13% YOY
- Service revenues of $14.5 billion grew 10% YOY, best growth in industry
- Net income of $978 million, 8x more than last year, diluted EPS of $0.78, and Adjusted EBITDA of $6.9 billion
- Core Adjusted EBITDA of $6.0 billion grew 7% YOY, best growth in industry and raising 2021 guidance
- Net cash provided by operating activities of $3.8 billion, increased $3.0 billion YOY, raising 2021 guidance
- Free Cash Flow excluding gross payments for the settlement of interest rate swaps of $1.7 billion, grew 16% YOY, best growth in industry
You can learn more about T-Mobile’s Q2 results here.