T-Mobile US Inc. (NYSE: TMUS) reported first-quarter 2014 results before markets opened Thursday. The last of the four big U.S. carriers to shares its results posted an adjusted diluted earnings per share (EPS) loss of $0.19 on revenues of $6.88 billion. In the same period a year ago, the company reported adjusted EPS of $0.22 on revenues of $1.29 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for a net loss of $0.10 and $6.92 billion in revenues.
The company said it added 2.4 million new subscribers, the first quarter ever with more than 2 million net additions, as well as the fourth consecutive quarter with more than 1 million total net additions. T-Mobile considers itself now the fastest growing wireless company.
The company’s CEO said:
A year ago I promised that we would bring change to what I called this arrogant US wireless industry. We are delivering on that promise and our results reflect the growing customer revolution that we’ve ignited. We are now approaching 50 million customers.
Rival Sprint Corp. (NYSE: S) earlier this week posted a narrower net loss but said it saw significant subscriber loss in the first quarter. But on Wednesday it reportedly was preparing a bid for T-Mobile.
ALSO READ: Samsung Sells Twice as Many Smartphones as Apple
T-Mobile said it expects to add 2.8 million to 3.3 million new subscribers in 2014. The consensus forecast of analysts calls for EPS of $0.11 on revenues of $6.98 billion for the current quarter. For the full year, analysts estimate EPS at $0.33 on $28.50 billion in revenue.
T-Mobile shares closed up fractionally Wednesday to $29.29, but then jumped 7.5% in afterhours trading to $31.50 on news of the Sprint takeover bid. The stock was still up 7.5% in premarket trading Thursday. The 52-week range is $16.01 to $34.10. The consensus target price for the shares was around $32.58 before the earnings report.
ALSO READ: The Most Innovative Companies in the World
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
