T-Mobile US, Inc. (TMUS) announced on Wednesday an increase in second-quarter earnings and revenues, both surpassing market expectations. The telecom company also revised its fiscal 2024 forecast for core adjusted EBITDA.
As of pre-market trading on the Nasdaq, T-Mobile shares rose approximately 3.2%, reaching $180.91.
For the second quarter, T-Mobile's net income surged 32%, reaching $2.93 billion, compared to $2.22 billion in the same period last year. Earnings per share (EPS) improved by 34%, rising to $2.49 from $1.86 a year earlier.
Total revenues grew to $19.77 billion, up from $19.20 billion in the prior year.
According to data compiled by Thomson Reuters, analysts had, on average, anticipated earnings of $2.28 per share on sales of $19.55 billion. It should be noted that analysts' forecasts usually exclude special items.
Service revenues totaled $16.4 billion, marking a 4% year-over-year increase, while postpaid service revenues rose by 7% year-over-year to $12.9 billion.
Additionally, the company revised its fiscal 2024 core adjusted EBITDA guidance to a range of $31.5 billion to $31.8 billion, slightly adjusting from the prior guidance of $31.4 billion to $31.9 billion.
The forecast for postpaid net customer additions has also been increased to a range of 5.4 million to 5.7 million, up from the previous range of 5.2 million to 5.6 million.
