T-Mobile gains over a million new customers amid Verizon exodus
T-Mobile reported growth in all areas, including post-paid phone and high-speed internet.
T-Mobile's revenue of $16.9 billion shows a 5% increase compared to last year.
The wireless industry looked like it was on the decline for a moment as Verizon announced this week that nearly 300,000 customers jumped ship. But on the contrary, it appears that this mass exodus was just an anomaly within the industry as other carriers are now reporting growth — and with staggering numbers.
T-Mobile announced its numbers for the first quarter of the year, with some surprising details. The Un-carrier had its "best ever" first quarter, sharing that it had added 1.3 million users to its service. As you can imagine, this is quite a dramatic difference from what we reported with Verizon, which means customers really are voting with their wallets in times that are tough.
As far as how all the numbers broke down, T-Mobile added 495,000 prepaid phone customers, 205,000 postpaid net account additions, and 424,0000 high-speed internet customers. For the most part, we can see that most areas of the business are quite healthy, with the carrier claiming these were some of the best numbers in the industry.
So what does that mean in terms of revenue? Well, the number is quite impressive, with T-Mobile bringing in a whopping $16.9 billion, which is a 5% growth from the same time last year. As far as how T-Mobile made such strides over the past year and quarter, the brand was able to leverage its powerful network, which has grown quite a bit thanks to improvements to its infrastructure.
It also shared that it had success with its new satellite service roll out, now known as T-Satellite, which has provided over 100,000 customers with the ability to communicate when terrestrial service isn't available. For the most part, this is just the beginning, since the service is still in beta, and hasn't even launched publicly yet.
Despite T-Mobile's ups and downs over the past year, this goes to show that, for the most part, the carrier is doing things right, at least enough to where new customers are looking to sign on. Of course, this isn't the only success story that we're seeing in the industry, with AT&T also having a successful quarter, adding 324,000 postpaid phone customers.
For the most part, it appears that both T-Mobile and AT&T are doing things right. But things can change quickly in this industry, as we've already seen Verizon making some early movies this year, announcing its three-year price lock guarantee, and making improvements to its Unlimited Ultimate plan. So, while you might be happy with your current wireless carrier, it might be a good idea to check to see what the competition is up to.
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