T-Mobile swung to a loss in its third quarter, falling well short of the expectations of analysts, despite adding 2.3 million customers to its network during the third quarter.
T-Mobile Adds 2.3 Million Customers, but Swings to Q3 Loss
Nearly 20 million new customers have come to T-Mobile since John Legere took over as CEO.
Re/code
The company posted a loss of 12 cents per share on $7.35 billion in revenue. Analysts had called for a profit of two cents per share on sales of $7.42 billion. Sales rose 10 percent from the year-ago quarter.
On the strength of the subscriber numbers, CEO John Legere, who is about to take to the stage at the Code/Mobile conference in Half Moon Bay, Calif., called it in a company statement “more proof of the resurgent strength of our brand and the massive momentum behind the Un-carrier consumer movement.”
That makes nearly 20 million new customers at T-Mobile since Legere took over as CEO about two years ago, in part as a result of his aggressive pricing tactics. With the new additions, T-Mobile now has a combined customer base of more than 52.9 million.
T-Mobile also said it now expects to add between 4.3 million and 4.7 million new core customers for its T-Mobile brand this year, a significant boost from its prior forecast, when it said it would add three million to 3.5 million such customers.
The company sold 6.9 million smartphones in the quarter, which amounted to 93 percent of its phone sales.
This article originally appeared on Recode.net.
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