T-Mobile pulls in 2.4 million new customers during Q1 2014Alex Wagner - Editorial Director of News and Content
Today T-Mobile announced its first quarter 2014 earnings, rounding out the quarterly reports of the big four U.S. carriers.
T-Mobile reports that it added a total of 2.4 million customers during the quarter, the first time that it’s ever gained more than 2 million subs in a single quarter. Of that 2.4 million, 1.3 million were branded postpaid adds while 465,000 were prepaid adds. T-Mobile finished the quarter with 49.1 million customers.
“A year ago I promised that we would bring change to what I called this arrogant US wireless industry,” said T-Mobile CEO John Legere. “We are delivering on that promise and our results reflect the growing customer revolution that we’ve ignited.”
Looking specifically at smartphones, T-Mobile reports that 81 percent of its branded postpaid customer base used smartphones at the end of Q1 2014, a jump from 67 percent in Q1 2013. Smartphone sales in Q1 2014 finished at 6.9 million, a record and an increase from the 2.2 million smartphones sold in Q1 2013.
T-Mobile also touched a bit on its effort to transition MetroPCS customers and spectrum to its own network. Big Magenta says that it’s moved approximately 53 percent of MetroPCS’s user base to the T-Mobile network and that more than half of Metro’s spectrum had been integrated into T-Mobile’s network at the end of Q1 2014.
On the financial side of things, T-Mobile’s total revenue for the quarter finished at $6.9 billion. That’s an increase of 47 percent from the $4.7 billion in revenue that T-Mo pulled in during Q1 2013. Overall, T-Mobile took a net loss of $151 million for the quarter, which is down from the $107 million net income that it earned in Q1 2013.
Most of T-Mobile’s Q1 2014 earnings appear to be pretty positive. Not only did it see nice growth in smartphone sales and revenue, but it also managed to add 2.4 million customers to its user base. The one downside to today’s results is the $151 million loss, but I’m sure that most T-Mo execs will be willing to look past that thanks to the huge subscriber boost that it experienced in the quarter.
T-Mobile will hold a conference call later this morning to discuss its Q1 2014 earnings. If John Legere and Co. have any juicy tidbits to share, I’ll be sure to pass ‘em along to you.