T-Mobile Adds Wireless Customers, But 4Q Earnings Miss Estimates

By Will Feuer

T-Mobile continued to gain wireless customers in the fourth quarter but earnings missed analysts' estimates, sending shares lower.

The cell carrier reported a fourth-quarter profit of $2.01 billion, or $1.67 a share, compared with $1.48 billion, or $1.18 a share, a year earlier. Analysts surveyed by FactSet were expecting earnings of $1.91 a share.

Revenue rose 1% to $20.48 billion. Analysts surveyed by FactSet were expecting $19.67 billion.

T-Mobile added 934,000 of its most lucrative connections -- postpaid phone subscribers, above the 927,000 it added in the same period a year ago and higher than the nearly 878,000 that analysts surveyed by FactSet expected.

Earlier this week, Verizon reported a gain of 449,000 phone connections under postpaid billing plans in the fourth quarter while AT&T added 526,000 of such subscriptions.

T-Mobile also reported a gain of 541,000 fixed-wireless internet customers, up from a gain of 524,000 reported a year earlier.

The company said it is targeting postpaid net customer additions of 5 million and 5.5 million in 2024.

Write to Will Feuer at [e-mail]

(END) Dow Jones Newswires

01-25-24 1635ET