T-Mobile has released its fourth quarter and year-end results, and it is abundantly clear the magenta carrier is the undisputed winner of 2022.
T-Mobile reported 314,000 net account additions in Q4 2022, totaling 1.4 million for all of 2022. Net customer additions came in at 1.8 million for Q4 and 3.1 million for 2022. Notably, this makes T-Mobile the only operator to post year-over-year growth.
The magenta carrier was also the only one to improve its churn rate — the rate of customers that switch from one carrier to another — posting a 0.92% churn rate for Q4 and 0.88% for the year.
The company’s High Speed Internet was a major hit, adding 524,000 customers in Q4 and 2.0 million for the year, another industry-best.
The company’s net income increased 250% year-over-year, hitting $1.5 billion in Q4. Net income for the year did decrease by 14% year-over-year, but that was attributed to merger-related costs, as well as loses related to the sale of the wireline business.
“With record postpaid account and customer net adds that translated into industry-leading postpaid service revenue and cash flow growth, T-Mobile absolutely smashed 2022 by once again focusing on putting customers first,” said Mike Sievert, CEO of T-Mobile. “In true Un-carrier fashion, we have no plans to slow down in 2023. Now that we are being recognized as not only the 5G leader but the clear overall network leader in the U.S., our differentiated and sustainable growth strategy is opening up even bigger pathways for our future!”
T-Mobile’s turnaround, from a struggling fourth-place carrier to its current position, is truly remarkable and a testament to what can happen when a company puts its customers first.