Markets
T-Mobile At Westfield UTC In San Diego
(Kevin Carter/Getty Images)

T-Mobile leaps after Q2 subscriber surge and fresh guidance boost

The wireless provider is raising the bar (literally) as it blows past rivals in subscriber growth.

Nia Warfield

T-Mobile shares jumped over 6% Thursday as Wall Street digested the wireless giant’s better-than-expected Q2 earnings results after the bell Wednesday and a fresh upgrade to its full-year forecast.

Diluted earnings per share came in at $2.84, topping the $2.68 analysts expected, while revenue edged past estimates at $21.1 billion. T-Mobile also raised its full-year guidance, now expecting 6.1 million to 6.4 million postpaid net customer additions (up from 5.5 million to 6 million), and lifted the midpoint of its core adjusted EBITDA outlook to $33.5 billion.

The largest US wireless carrier by market cap added 1.7 million postpaid subscribers in Q2, topping the Street’s estimate of 1.3 million, easily outpacing rivals AT&T and Verizon. The company has credited its growth to new pricing initiatives and a renewed push on value, including a five-year price lock on select plans.

T-Mobile shares are now up nearly 13% year to date.

More Markets

See all Markets
markets

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

Latest Stories

Sherwood Media, LLC and Chartr Limited produce fresh and unique perspectives on topical financial news and are fully owned subsidiaries of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Money, LLC, Robinhood U.K. Ltd, Robinhood Derivatives, LLC, Robinhood Gold, LLC, Robinhood Asset Management, LLC, Robinhood Credit, Inc., Robinhood Ventures DE, LLC and, where applicable, its managed investment vehicles.