Thursday, August 08, 2013

T-Mobile Welsomes 1.1 Million New Customers

The No. 4 U.S. cellular carrier said it attracted 1.1 million new customers including 685,000 contract subscribers in the second quarter.

That's an improvement of 1.3 million net additions from the year-earlier second quarter; T-Mobile lost 557,000 customers in the same quarter last year.

T-Mobile said it was able to keep "postpaid churn" (customers not renewing contracts) to its lowest level ever at only 1.58%. It also benefited from the additional pre-paid customers gained with the completion of the MetroPCS merger.

The carrier reported second-quarter revenue of $6.23 billion, up from $4.9 billion one year ago and beating Wall Street expectations of $6.01 billion. With its change to lower cost monthly plans, T-Mobile wound-up posting a loss of $16 million compared to last year's second-quarter profit of $207 million.