T-Mobile posted a profit for the first quarter that easily beat expectations on Wall Street, as the Un-carrier, as it is self-proclaimed, continued to take customers away from its rivals.
For the first quarter of 2016, T-Mobile recorded a $479 million net income that was equal to 56 cents per share in comparison to a $63 million net loss during the 2015 first quarter.
Analysts were expecting earnings of 10 cents per share. Total revenue for the three-month period was up by 10.6% ending at $8.5 billion, which also beat Wall Street estimates.
John Legere the outspoken CEO at T-Mobile declared that it was early but he was fully awake due to the earnings from T-Mobile that nailed it.
In another tweet, he wrote that that Verizon and AT&T attempted to buy out customers of T-Mobile but T-Mobile kept its customers and took theirs.
T-Mobile added over 2.2 million net subscribers during the three-month period, the 12th straight quarter with a net gain of a minimum of one million subscribers for its wireless service.
It was also the 6th time over its past seven quarters that it gained over 2 million. Over 1 million of the post-paid customers that are the most sought after were added during the period. Those are the subscribers paying their bills monthly.
T-Mobile was successful as well in the category of pre-paid, adding a new record 807,000 net clients for the three months. The company posted that is wireless service MetroPCS performed strong during the quarter.
One incentive that appeared to be apparent for the overall growth in subscribers during the just ended quarter was that T-Mobile expanded the Binge On initiative that allows customers to stream their video contents from Google Play, Hulu, Netflix, YouTube and others without using their data, high speed bucket.
Over 60 video providers now take part in the Binge On, which is up for the two dozen when it was first launched in November of 2015.
T-Mobile did say that Binge On indeed has helped attract and maintain customers, but it has not broken out any specific numbers.
T-Mobile added that its network of 4G LTE now has coverage of 308 million people.