T-Mobile (TMUS) posted Q1 2024 earnings that beat analyst estimates, though revenue fell short of expectations.
The company also raised its guidance for monthly bill-paying phone subscriber growth, sending shares marginally higher in after-hours.
For the fiscal first quarter, the company reported earnings per share (EPS) of $2.00, beating the consensus estimates of $1.87. Revenue came in at $19.6 billion, slightly missing the projected $19.81 billion.
T-Mobile has raised its forecast for the annual growth of monthly bill-paying phone subscribers. The company now expects to add between 5.2 million and 5.6 million subscribers in 2024, an increase from its previous forecast range of 5 million to 5.5 million.
Core Adjusted EBITDA is now anticipated to be between $31.4 billion and $31.9 billion, slightly up from the earlier guidance of $31.3 billion to $31.9 billion.
Net cash provided by operating activities is projected to range from $21.6 billion to $22.3 billion, an improvement over the previous forecast of $21.5 billion to $22.3 billion.
In addition, adjusted free cash flow for the year is estimated to range between $16.4 billion and $16.9 billion, up from the prior forecast of $16.3 billion to $16.9 billion.
“T-Mobile had a great start to 2024 with industry-leading growth in service revenues and profitability,” said Mike Sievert, CEO of T-Mobile.
“Even as the rest of wireless saw moderated customer growth, our momentum continued thanks to our increasingly differentiated combination of the best value, best network, and best experiences that customers love. We’re excited about our path forward and our raised guidance for 2024 reflects our confidence in what’s to come.”
remove ads
.
