Mobile operator T-Mobile increases its full-year net growth for postpaid customers after exceeding analysts’ estimates for the first quarter on May 4.
While the company added 773,000 postpaid subscribers in the first quarter, beating FactSet estimates of 475,300, total revenue rose to $19.76 billion from $11.11 billion a year earlier, surpassing the $18.90 billion estimate, according to IBES data from Refinitiv.
T-Mobile’s outstanding performance is due to robust demand for 5G services from people working remotely.
While T-Mobile had forecast net customer growth of 4 to 4.7 million in 2021, its most recent estimate now puts net customer growth at 4.4 to 4.9 million in 2021.
For more information, read the original story in Reuters.