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T-Mobile recently revealed its Q3 2020 earnings in a call with its investors. In this quarter, the Un-carrier crossed the 100 million total customer mark, letting them reach a momentous milestone.
In Q3 2020, T-Mobile was able to have 2,035,000 total net additions. This comes from the 1,979,000 postpaid net additions and 56,000 prepaid net additions. With the net adds from this quarter, T-Mobile now has a total of 100.4 million customers under its network.
The Un-carrier also reported a $19.3 billion total revenue and $14.1 billion services revenue for the quarter. They had a raised H2 2020 guidance and an adjusted $7.1 billion EBITDA. With these numbers, T-Mobile expects to deliver over $1.2 billion of synergies in 2020.
Part of T-Mobile’s success in this quarter is because of its merger with Sprint seven months ago. The merger allowed T-Mobile to give their customers mid-band 2.5GHz 5G network access. This now covers more than 30 million people in the country. Before the year ends, they hope to cover 100 million people. About 15 percent of Sprint’s postpaid customers have already been moved to their network. The Un-carrier has already started migrating customer networks.
Mike Sievert, T-Mobile CEO, shared this on the call:
“Last quarter T-Mobile overtook AT&T to become #2 in U.S. wireless and today we announced our highest ever postpaid net adds. Now, with over 100 million wireless customers and America’s largest 5G network, there is no doubt that we’re the growth leader in wireless.”
“Customers are choosing T-Mobile in record numbers because we are the only ones that can deliver this combination of value and experience with a true 5G network that is available to customers in every single state! We’re consistently and profitability outpacing the competition -- and we’re just getting started!”
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