T-Mobile continues to boast its 5G coverage and speed following impressive Q3 earnings
T-Mobile is riding high, bringing in more customers and cash.
What you need to know
- T-Mobile announced its Q3 2022 financial earnings with $15.4 billion in service revenue.
- The carrier increased both its net postpaid customer additions and account additions.
- T-Mobile says more than half of its subscribers have a 5G smartphone.
T-Mobile reported its Q3 2022 earnings on Thursday, raking in $15.4 billion in service revenue. This is not only higher than the previous quarter but also represents a 4% increase year over year as the carrier continues to bank on its strong 5G.
In addition, T-Mobile reported 1.6 million net postpaid customer additions and 394 thousand account additions, the latter of which represents the highest number of account adds in the company's history.
The carrier attributes its strong numbers to its impressive 5G, which it says covers 97% of Americans with Extended Range 5G, while more than 250 million people have access to the company's faster Ultra Capacity 5G.
"We’ve always said our aspiration was to be the first and only provider to offer customers both the best network and the best value without having to sacrifice one for the other — and based on another set of standout customer and financial results for Q3, it's clear we’re delivering on that promise," says T-Mobile CEO, Mike Sievert, in a statement.
T-Mobile says nearly 55% of its subscribers have a 5G phone, and it continues to invest in bringing 5G to rural America, contributing more than $5.5 million "to kick-start 125 community development projects across 37 states."
T-Mobile has been arguably the most aggressive in terms of its 5G rollout when compared to other U.S. carriers and highlights the recent Ookla Global Index Market Analysis, which reveals T-Mobile to have the best 5G performance and availability.
In addition, T-Mobile announced a partnership with SpaceX earlier this year in an effort to bring additional coverage to subscribers with the help of Starlink satellites. The effort, which is expected to enter beta by the end of 2023, aims to kill "dead zones" by giving phones direct access to satellite coverage using T-Mobile's mid-band spectrum.
Meanwhile, into the final months of 2022, T-Mobile is raising its guidance based on a strong year. The company now expects postpaid net customer additions to reach somewhere between 6.2 million and 6.4 million.
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Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.