T-Mobile raises forecast for annual subscriber additions
(Reuters) -T-Mobile raised its annual forecast for postpaid net customer additions on Wednesday and added more wireless subscribers than expected in the second quarter, signaling steady demand for the telecom giant's top-tier mobile services.
Shares of the Bellevue, Washington-based company rose 3.5% in extended trading.
The carrier now expects to add between 6.1 million and 6.4 million subscribers in 2025, compared with its prior projection of 5.5 million to 6 million additions.
Telecom operators in the U.S. have boosted their plans with attractive trade-in deals and price guarantees to fend off competition as they grapple for a shrinking pool of new users.
T-Mobile's postpaid Experience plans, which bundle streaming services such as Netflix and Apple TV+, come with a five-year price guarantee for customers.
Its aggressive promotions and add-on perks have helped the company maintain an edge over rivals and increase its market share. It added 830,000 postpaid phone customers in the second quarter, surpassing FactSet estimates of 700,300 additions.
T-Mobile, the last among the big three U.S. telecom carriers to report results, posted second-quarter total revenue of $21.13 billion, beating analysts' estimates of $21.02 billion, according to data compiled by LSEG.
Rival AT&T beat quarterly profit estimates on Wednesday and added more wireless subscribers than expected, while Verizon raised the lower end of its annual profit forecast on Monday.
(Reporting by Juby Babu in Mexico City; Editing by Devika Syamnath)
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