T-Mobile announced its third quarter financial results early, revealing them last night instead of today. The company again recorded sizeable growth in a number of area although even though the Magenta Network continues to outgrow its rivals Verizon, AT&T, and Sprint, growing profits remains an issue.
Keeping that in mind, it has still been an amazing period for the Uncarrier, with a total of 2.3 million new customers added through the three months. It was the best quarter in terms of customer growth the company has ever had and of those new additions, 411,000 were prepaid adds and 1.38 million were postpaid customers. Over the last ten financial quarters T-Mobile has enjoyed unprecedented growth and as added 10 million new customers over the timeframe.
Smartphones are the driving force of product sales, and 93 percent of all devices sold by the company were smartphones, 6.9 million in total throughout the third quarter. CEO John Legere has said the iPhone 6 was a big part of that during his interview at the Wall Street Journal conference. He said Apple’s new smartphone was responsible for the biggest launch T-Mobile has ever seen, something that has also been claimed by rivals AT&T and Verizon. Legere said demand for Cupertino’s all-conquering smartphone has been "mind blowing".
T-Mobile set a target at the start of the year to expand its LTE reach to 250 million people by the end of 20014 and the company achieved that goal months early, announcing it through Q3. The company has now set new goals for 2015; it wants to reach 280 million Americans by mid-2015 and 300 million by the end of next year.
"Ahead of schedule" has become a recurring theme here. As of today, 250 million Americans can experience America's fastest nationwide 4G LTE network. No other network team in the nation can light up new network advancements so fast. We saw it with the initial roll out of our LTE network - we hit nationwide coverage months ahead of schedule. We saw it with the nationwide availability of Voice over LTE (VoLTE) just three months after initially launching in Seattle.
Revenue grew by 9.9% through the period, while profit was $1.3 billion, remaining even year on year.