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T-Mobile beats estimates for phone subscribers

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07/25/2019 | 04:18pm EDT
A T-Mobile store is pictured in the Manhattan borough of New York

(Reuters) - T-Mobile US Inc on Thursday beat analysts' estimates for second-quarter net new phone subscribers who pay a monthly bill, boosted by the U.S. mobile carrier's competitive wireless plans aimed at fending off its bigger rivals.

The third-largest U.S. mobile carrier said it added a net 710,000 phone subscribers in the three months ended June 30, compared with 686,000 additions a year earlier.

Analysts were expecting 643,000 new subscribers, according to research firm FactSet.

Postpaid figures are closely watched as customers who opt for the plan pay a recurring monthly bill and are more valuable to carriers that prepaid users.

T-Mobile US is awaiting approval for its $26.5 billion deal to buy smaller rival Sprint Corp as it strives for more scale to compete with bigger rivals such as Verizon Communications Inc and AT&T Inc.

The company's net income rose to $939 million, or $1.09 per share, in the quarter, from $782 million, or 92 cents a share, a year earlier.

Analysts had expected the company to earn 97 cents per share, according to IBES data from Refinitiv.

Revenue rose nearly 4% to $10.98 billion, falling short of estimates of $11.13 billion.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
AT&T 1.01% 34.15 Delayed Quote.19.66%
SPRINT CORP 7.39% 7.99 Delayed Quote.37.29%
T-MOBILE US 5.43% 84.25 Delayed Quote.32.45%
VERIZON COMMUNICATIONS 1.28% 57.08 Delayed Quote.1.53%
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Financials (USD)
Sales 2019 183 B
EBIT 2019 30 788 M
Net income 2019 18 355 M
Debt 2019 155 B
Yield 2019 5,99%
P/E ratio 2019 13,7x
P/E ratio 2020 12,0x
EV / Sales2019 2,21x
EV / Sales2020 2,16x
Capitalization 249 B
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Number of Analysts 27
Average target price 35,24  $
Last Close Price 34,15  $
Spread / Highest target 40,6%
Spread / Average Target 3,19%
Spread / Lowest Target -38,5%
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John J. Stephens CFO, Principal Accounting Officer & Senior EVP
Joyce M. Roché Independent Director
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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