T-Mobile US. reported its third-quarter 2024 results, showing substantial growth across customer additions, service revenues, and financial performance. The company added 1.6 million net postpaid customers, the highest in the industry, including 865,000 postpaid phone customers, marking its best third-quarter performance in over a decade. T-Mobile also reduced its postpaid phone churn to 0.86%, the lowest in its Q3 history, while reaching the milestone of 6 million high-speed internet customers.
Service revenues increased 5% year-over-year to $16.7 billion, driven primarily by an 8% rise in postpaid service revenues, reaching $13.3 billion. The company’s net income jumped 43% to $3.1 billion, and diluted earnings per share (EPS) grew by the same margin to $2.61. Core adjusted EBITDA rose 9% to $8.2 billion, with net cash from operating activities hitting a record $6.1 billion, up 16% year-over-year. T-Mobile also returned $1.4 billion to shareholders through stock repurchases and dividends.
At its Capital Markets Day, T-Mobile shared plans for continued growth and long-term value creation, with an estimated $80 billion capacity for investments and stockholder returns through 2027. The company also won Opensignal’s award for best 5G availability worldwide for the fourth consecutive year and now covers more than 300 million people with its Voice over New Radio (VoNR) technology.
• Postpaid net account additions: 315,000
• Postpaid customer additions: 1.6 million
• Postpaid phone customer additions: 865,000
• Postpaid phone churn: 0.86%
• Service revenues: $16.7 billion (+5% YoY)
• Net income: $3.1 billion (+43% YoY)
• Core adjusted EBITDA: $8.2 billion (+9% YoY)
• Returned $1.4 billion to shareholders
“We’re delivering industry-leading results with our best Q3 postpaid phone net adds in a decade, and this success empowers us to raise our 2024 guidance once again,” said CEO Mike Sievert.
