What just happened? T-Mobile in its latest earnings report said it brought in $11.88 billion in revenue for the fourth quarter of 2019, an increase of 3.8 percent year-over-year and up from $1.06 billion in the previous quarter.
For the full year term, total revenue was $45 billion, a four percent increase over the $43.31 billion generated across 2018. According to the carrier, it is the sixth consecutive year that T-Mobile has led the industry in total revenue percentage growth.
T-Mobile’s net income for the period was $751 million, down 17 percent from $870 million in Q3 but up 17 percent from $640 million during the same period a year earlier.
In terms of subscribers, T-Mobile said it added one million new postpaid phone customers in Q4, pushing its total annual additions to 3.1 million – reportedly the best in the industry. Postpaid customers, unlike prepaid, are those that pay their bills at the end of each billing period and are generally considered more valuable than prepaid subscribers.
The nation’s third largest wireless provider has been working for nearly two years to get approval for its merger with fourth-place Sprint. The two have received the blessing of the Justice Department and the FCC but several states sued to block the deal. A decision regarding the matter could come any day now.
Either way, T-Mobile will forge ahead without John Legere. The disruptive CEO announced in November that he would be stepping down when his contract expires this April. COO Mike Sievert will fill his boots.