T-Mobile today reported its Q2 2017 earnings, and the magenta carrier is probably pretty pleased about the results.
T-Mobile added 1.3 million customers in Q2 2017, including 817,000 postpaid adds and 94,000 prepaid adds. This marks the 17th straight quarter that T-Mo added more than 1 million customers. Also of note is that postpaid churn for the quarter finished at 1.10 percent, a drop from 1.27 percent one year ago.
At the end of Q2 2017, T-Mobile had 69.6 million customers, which is actually lower than the 72.6 million subscribers that T-Mo had at the end of Q1 2017. This decrease is due to T-Mobile’s decision to exclude 4.4 million wholesale customers in the Lifeline program, which T-Mo says it did because it believes “current and future regulatory changes have made the Lifeline program offered by our wholesale partners economical.”
Financially, T-Mobile grew both its service revenues and total revenues year-over-year, which finished at $7.4 billion and $10.2 billion, respectively. Net income more than doubled year-over-year to finish at $581 million.
T-Mobile also gave an update on its network today, saying that its 4G LTE network reached 315 million people in Q2 2017 and that that number will grow to 321 million by the end of 2017. T-Mo’s 700MHz coverage is live in 575 markets and is “essentially complete,” and T-Mobile says that it’ll begin lighting up its first 600MHz cell sites in August.
T-Mo is also planning to use some of its 600MHz spectrum for a 5G network. That's a bit further off, though, with plans to begin deploying 5G coverage in the 2019/2020 timeframe.
One other notable announcement made by T-Mobile today relates to its stores. Last week, T-Mobile opened its 1,000th new store in 2017, and it plans to open another 500 by the end of 2017. T-Mo has also opened 1,100 new MetroPCS stores in 2017 and plans to open another 400 by year’s end. By the end of 2017, T-Mobile says that it’ll have 17,000 branded stores across the U.S.r
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