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What just happened? T-Mobile doesn't appear to be struggling in the post-Legere era. The disruptive wireless carrier in its second quarter earnings report said its total customer count now sits at 98.3 million, which it claims is enough to put it ahead of AT&T in terms of "total branded customers across both postpaid and prepaid."
This is the first quarter for the "New T-Mobile," the company created as a result of the merger between T-Mobile and Sprint. The coming together of the two carriers also explains the sudden jump in customers. Last quarter, as standalone T-Mobile, the company reported just 68.5 million customers.
AT&T, who reported its second quarter earnings late last month, said it had 74.9 million postpaid customers and 18 million prepaid customers for a total of 92.9 million postpaid and prepaid customers. Indeed, that's fewer than the New T-Mobile's 98.3 million.
As The Verge highlights, however, T-Mobile didn't factor in AT&T's "reseller" or "connected devices" categories which finished the quarter with 6.7 million and 71.8 million connections, respectively. But then again, T-Mobile's accounting didn't seem to include similar categories, either.
For the quarter, T-Mobile reported total revenue of $17.7 billion with a net income of $110 million, the latter of which was down significantly from the $939 million in the year-ago quarter due to merger-related costs, Covid-19 costs and other impairment charges.
Image courtesy Kobby Dagan