T-Mobile Had the Highest Q2 Subscriber Adds in Eight Years

T-Mobile US reported post-paid phone additions of 760,000 in the second quarter of 2023. This is its highest number in the quarter over the past eight years and the most in the industry.

Company CEO Mike Sievert said that T-Mobile had the lowest post-paid phone churn rate, at 0.77% compared with 0.79% for AT&T and 0.83% at Verizon. “We’ve set audacious goals and delivered a durable and differentiated plan that is working just as we said it would,“ Sievert stated.

T-Mobile upped its full-year net additions target from between 5.3 million and 5.7 million to a range from 5.6 million to 5.9 million. It added 509,000 fixed-wireless internet (FWA) customers compared with 560,000 in Q2 2022.

Service revenue grew 2.8% to $15.7 billion and post-paid 5% to $12.1 billion, both leading the industry. Overall revenue fell 2.6% to $19.2 billion, with a net profit of $2.2 billion compared with a loss of $108 million.