T-Mobile Reports Q3 2023 Earning Results

Earlier today, T-Mobile unveiled its Q3 2023 results. These numbers showed promising growth on the Un-carrier’s customer count, thanks to its best-in-class network. 

For this quarter, T-Mobile’s results showed the lowest Q3 postpaid phone churn throughout its history. They also earned the highest postpaid phone and postpaid account net adds and industry leading growth in consolidated service revenue and Core Adjusted EBITDA. 

The highlights of its Q3 2023 results are: 

  • Postpaid net customer adds of 1.2M; best in industry and raising guidance, includes deactivation of lower ARPU data devices in Educational sector that are no longer needed post-pandemic
  • Postpaid phone net customer adds of 850K; best in industry
  • Postpaid phone churn of 0.87%; record low for Q3
  • High Speed Internet net customer additions of 557K, best in industry
  • Total Revenue of $19.3B; -1% YoY with higher service revenue offset by lower equipment revenue on fewer upgrades
  • Service Revenue of $15.9B; +4% YoY and best in industry growth
  • Postpaid Service Revenue of $12.3B; +6% YoY and best in industry growth
  • Core Adj. EBITDA of $7.5B; +12% YoY, best in industry growth and raising guidance

Adj. Free Cash Flow of $4B; +94% YoY, best in industry growth and raising guidance

T-Mobile CEO, Mike Sievert, had this to say about this quarter’s numbers:

“I’ve said it before and I’ll say it again: in this competitive environment, only T-Mobile can deliver the type of stellar results we saw in Q3 because only we can consistently deliver the best network and best value combination that customers want,” said Mike Sievert, CEO of T-Mobile. “This quarter’s best-in-class customer and financial growth, including our industry-leading postpaid net customer AND account adds and highest cash flow in Un-carrier history, paint a clear picture of a durable and differentiated strategy that is working. Our unmatched offering is bringing more and more consumers and businesses to the Un-carrier, including, for the first time ever, the highest share of switchers in smaller markets and rural areas. At the same time, we’re delivering significant shareholder value that will propel us into a future where we have plenty of room to run.”

You can read more in depth information about T-Mo’s Q3 2023 results here

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