T-Mobile hits 100M customers in Q3 2020
Earlier today, T-Mobile held an investor call for its Q3 2020 earnings. The numbers show a pretty impressive quarter for the wireless provider as it crossed the 100 million customer mark. This comes after reporting a record-high postpaid net adds that are almost as much as the whole industry.
For Q3 2020, T-Mobile reported total net additions of 2,035,000. Out of that number, there were 1,979,000 postpaid net additions and 56,000 prepaid net additions. With these numbers combined, T-Mobile revealed that it is now serving a record-breaking 100.4 million total customers.
Apart from its net adds, T-Mobile also reported having a total revenue of $19.3 billion and service revenues of $14.1 billion. They also reported an adjusted EBITDA of $7.1 billion and a raised H2 2020 guidance. But this does not mean that T-Mobile will be slowing down on its progress anytime soon. They expect to deliver more than $1.2 billion of synergies in 2020.
Of course, this is all thanks to their merger with Sprint seven months ago. As revealed by the Un-carrier, they have already moved over 15 percent of Sprint’s postpaid customers to their network and started customer network migrations. The merger has also allowed the wireless provider to give their customers access to mid-band 2.5 GHz 5G network, which now covers over 30 million people. They expect to cover 100 million people before the year ends.
T-Mobile CEO Mike Sievert shared this on the call:
“Last quarter T-Mobile overtook AT&T to become #2 in U.S. wireless and today we announced our highest ever postpaid net adds. Now, with over 100 million wireless customers and America’s largest 5G network, there is no doubt that we’re the growth leader in wireless.”
“Customers are choosing T-Mobile in record numbers because we are the only ones that can deliver this combination of value and experience with a true 5G network that is available to customers in every single state! We’re consistently and profitability outpacing the competition -- and we’re just getting started!”