T-Mobile has beat estimates in its Q4 results, topping off the company’s best year ever.
T-Mobile reported earnings of $750 million on $20.3 billion in revenue. That comes out to 60¢ a share, up from the $19.9 billion and 51¢ a share analyst were expecting. The company brought in $68.4 billion for all of 2020, with $3.1 billion of net income for the year.
Similarly, T-Mobile added a total of 1.7 million net additions in Q4, the best among US carriers. Overall, the company added 5.6 million for the entire year.
T-Mobile also took the opportunity to tout their 5G network, an area where it has a significant advantage over its competitors. The company’s nationwide 5G network now covers 280 million people, nearly 4x more than Verizon and nearly 2.5x more than AT&T. T-Mobile’s faster Ultra Capacity 5G “covers 106 million people, over 50x more than Verizon’s 5G Ultra Wideband,” and is expected t cover 200 million by the end of the year.
“These results show that we’re pulling way ahead of the pack on what matters – overall 5G network performance – and executing to stay ahead,” said Mike Sievert, CEO of T-Mobile. “And customers are noticing. 2020 was quite simply our best year yet, with our highest EVER total postpaid net additions of 5.5 million. Our team delivered – leading the industry on customer growth, while being the ONLY major player to grow profitability as well, with our synergy-backed business model. The best team, the best assets, the best 5G network. We’re positioned to create enormous value. I like the hand we’re holding!”