Number three U.S. carrier T-Mobile reported its third quarter 2016 earnings today, and says the iPhone 7, and the carrier’s various promotions, contributed to its increase in earnings.
The carrier added 2.0 million total net customers while delivering 13% year-over-year growth in service revenue, $366 million in Net Income, and $2.6 billion in Adjusted EBITDA.
The Magenta Carrier reported $138 million in the third quarter of 2015. The second quarter of 2016 saw the firm report net income of $225 million.
The increase was attributed to the strong performance of the recently released iPhone 7 and iPhone 7 Plus handsets, as well as the carriers various promotions, such as its new T-Mobile ONE plans. The company also saw an increase in customer migration from the carrier’s branded prepaid plans to its postpaid plans.
T-Mobile expects to lead the industry in branded postpaid phone net additions for the 11th consecutive quarter. The Company saw continued growth in branded postpaid phone customers with net additions of 851,000 in the third quarter of 2016. The increase was primarily due to the introduction of the T-Mobile ONE plans, the launch of the iPhone 7 in the quarter and an increase in branded prepaid customer migrations to postpaid plans. Branded postpaid net customer additions were 969,000 in the third quarter of 2016.
Bombastic T-Mobile CEO John Legere, of course had something to say about his company’s performance in the third quarter:
“That’s 14 quarters in a row that T-Mobile has won share from the competition,” said John Legere, President and CEO of T-Mobile. “The Un-carrier is delivering. We took share and grew our customer base while producing both financial growth and shareholder value. Most importantly, we are delivering results for both customers and shareholders alike.”
For more details on T-Mobile’s third quarter 2016 financial results, visit their Investor Relations website.