
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.
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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.