T-Mobile US Q2 Results Climb, Top Market Estimates; Updates FY24 Core Adj. EBITDA View; Stock Up

(RTTNews) - Telecom firm T-Mobile US, Inc. (TMUS) reported Wednesday higher second-quarter earnings and revenues, both above market estimates. The company further updated outlook for fiscal 2024 core adjusted EBITDA.

In pre-market activity on the Nasdaq, T-Mobile shares were gaining around 3.2 percent to trade at $180.91.

In the second quarter, net income climbed 32 percent to $2.93 billion from last year's $2.22 billion. Earnings per share were $2.49, up 34 percent from last year's $1.86.

Total revenues went up to $19.77 billion from $19.20 billion a year ago.

Analysts on average expected the company to report earnings of $2.28 per share on sales of $19.55 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Total service revenues of $16.4 billion increased 4 percent year-over-year, and Postpaid service revenues of $12.9 billion increased 7 percent year-over-year.

Further, the company updated fiscal 2024 core adjusted EBITDA guidance to between $31.5 billion and $31.8 billion, versus prior guidance of $31.4 billion to $31.9 billion.

Postpaid net customer additions are expected to be between 5.4 million and 5.7 million, an increase from prior guidance of 5.2 million to 5.6 million.

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