T-Mobile Misses Quarterly Revenue Estimates
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| - | Feb 1 (Reuters) - Wireless carrier T-Mobile US Inc posted fourth-quarter revenue below Wall Street estimates on Wednesday, | + | Feb 1 (Reuters) - Wireless carrier T-Mobile US Inc posted fourth-quarter revenue below Wall Street estimates on Wednesday, as competition heats up with rivals looking to add subscribers through more [https://medialoot.com/item/teardrop-banner-mockup/ attractive promotional] offers.<br> The company added thousands of wireless subscribers over the last few years, thanks to hefty discounts on smartphones, industry-low plan prices and [https://godayjob.com/2023/06/03/ackmans-pershing-square-reaps-2-7-bln-from-rate-trade-but-down-9-33/ t] an edge in 5G.<br><br>But a slowdown in wireless growth and bigger promotions by rivals amid rising costs are hurting T-Mobile now.<br> The company said total revenue fell 2.5% to $20.27 billion in the quarter ended December, below Wall Street's estimate of $20.6 billion, [https://evigetir.com/evdeneve/montaj.html liY] according to Refinitiv data.<br><br>It added 927,000 monthly bill-paying phone subscribers in the quarter.<br> [https://evigetir.com/ntpc/form.html%20-%20K%C2%8Dsayol.lnk T]-Mobile's net income rose to $1.48 billion, or $1.18 per share, from $422 million, or 34 cents per share, a year earlier.<br> In January, the company said it was investigating a data breach that may have exposed 37 million postpaid and prepaid accounts, [https://evigetir.com/evden-eve-nakliyat.html vD] and it may incur significant costs related to the incident.<br> T-Mobile expects to add between 5 million and 5.5 million net monthly-bill paying subscribers in 2023, compared with the 6.4 million additions it reported in 2022.<br><br>(Reporting by Eva Mathews in Bengaluru; Editing by Shinjini Ganguli)<br> |
