When We Talks
Technology

T-Mobile adds 1.7M customers, shares climb despite missing earnings expectations – GeekWire

[ad_1]

T-Mobile reported $19.7 billion in revenue for its second fiscal quarter, which was down slightly from the year-ago quarter and missed analyst expectations.

Still, the Bellevue, Wash.-based wireless carrier added 1.7 million new customers, up from 1.3 million a year ago, and the highest second quarter growth in its history. The company raised guidance for the current year.

T-Mobile shares gained more than 4% in trading Wednesday. The stock is up more than 21% on the year. 

The company reported a net loss of $108 million, or $0.09 per share, compared to net income of $978 million, or $0.78 per share, in the year-ago period.

The company attributed its losses this quarter to merger-related costs and legal-related expenses from its August 2021 cyber attack.  

T-Mobile added 560,000 broadband users for its internet service, a faster rate of growth than the 338,000 home internet users it added in the first quarter. 

The company is betting big on its home internet service and small town initiative, part of a broader national effort to expand broadband infrastructure throughout the country.



[ad_2]

Source link

Related posts

Microsoft says it offered to enter ‘Call of Duty’ consent decree with FTC for Activision deal – GeekWire

Effie Weber

Seattle technical interviewing startup Karat cuts 47 employees, citing need to invest in growth – GeekWire

Effie Weber

Synthetic molecules open the way for new drugs and new company

Effie Weber