On Thursday, T-Mobile beat analysts’ estimates as revenue rose to $11.88 billion from $11.45 billion, surpassing analysts’ average estimate of $11.83 billion, according to data from Refinitiv. The technology company has added more 5G phone users to its monthly subscription plans, some of which include Netflix.
Meanwhile, the technology giant, who are the third-largest US wireless carrier by subscribers, has been eagerly awaiting a decision from a federal judge on it can consummate its marriage with Sprint. The merger is worth 26.5 billion dollars but it has not been given final approval due to multiple states suing to block the deal, arguing it is anticompetitive and will cause customers to pay move for its services, including 5G phones.
T-Mobile 5G network was launched in December 2019 and the company now says it covers more than 200 million people nationwide. The merger will allow T-Mobile to continue to grow its 5G network.
The future is also looking bright ☀️w/ #NewTMobile - it will result in MORE competition w/ LOWER prices & HIGHER quality of the network! We are ready for the Court's decision & remain confident that 2020 will be the BEST-EVER! Key info: https://t.co/N5YvuurSYrFebruary 6, 2020
Awaiting DoJ approval
The Department of Justice approved T-Mobile and Sprint’s merger with the condition that some prepaid assets be sold off to DISH Network. This would make DISH a fourth wireless competitor. The Federal Trade Commission also approved the deal last year.
In a statement on T-Mobile/Sprint transaction, Federal Communications Commission Chairman, Ajit Pai said: “The construction of this network and the delivery of such high-speed wireless services to the vast majority of Americans would substantially benefit consumers and our country as a whole.”
T-Mobile has maintained confidence that the merger will go ahead and that the public will benefit from having access to cheap, fast wireless speeds, and whilst maintaining that a Sprint merger is the best way to acquire the compatible spectrum needed to expand its 5G network.
After being on hold for the past two years, a final merger decision, which will be delivered by New York federal court, is expected any day now.