T-Mobile has seen impressive growth over the past couple of years, positioning it as the US’ fastest-growing wireless carrier, and one of the hottest 5G stocks. And the pending merger with Sprint is set to be completed at the start of 2020, with the 600MHz 5G launch reportedly reaching 200 million people.
The company shared its third-quarter earnings on Monday and they certainly weren’t disappointing. T-Mobile added 1.7 million subscribers, bringing its total count to 84.2 million subscribers. This was a much larger figure than expected which has put the carrier in an extremely strong position.
Revenue for the quarter came in at $11.1 billion (£8.6bn). Earnings per share were $1.01 (£0.79), higher than the 96 cents analysts estimated. These figures aren’t necessarily surprising as T-Mobile gears up for an impressive 5G launch and merger.
The low-band 600MHz 5G network with a coverage of 200 million people is coming before the end of the year. T-Mobile also already has two 5G-ready phones lined up for its network, the OnePlus 7T Pro 5G and the Samsung Galaxy Note 10 Plus 5G.
“It's just transformational what we're building”
Mike Sievert, T-Mobile's president and chief operating officer, said that, "it's just transformational what we're building, and this piece that we're launching this quarter is just the beginning of a journey."
The rest of the journey will involve Sprint, and whilst the merger has been approved, the final technicalities are still up in the air. T-Mobile is storming ahead with 5G, and could leave other carriers far behind if its 600MHz 5G network really can successfully bring super-fast speeds to millions of people.
Investors are also looking kindly on the stock, after the impressive earnings report and solid 5G plans.