Latest News

The Ratings Game: T-Mobile shares gain after ‘solid’ subscriber numbers offer upbeat industry signal

0

Shares of T-Mobile US Inc. were headed higher in Thursday trading after the telecommunications company provided subscriber metrics for its latest quarter.

T-Mobile
TMUS,
+3.19%

saw net additions for postpaid phone customers of 927,000 in the fourth quarter, it announced in a late Wednesday press release. Additionally, the company said it saw postpaid phone churn of 0.92%, the lowest fourth-quarter churn that T-Mobile has seen in its history.

The announcements coincided with T-Mobile’s appearance at a Citi investment conference Wednesday.

“We are perfectly positioned to profitably take further market share in 2023 and beyond,” Chief Executive Mike Sievert said in a release.

UBS analyst John Hodulik wrote in a note to clients that the results were “solid.”

The first day of the conference, which brought presentations from T-Mobile, AT&T Inc.
T,
+0.07%
,
Verizon Communications Inc.
VZ,
+0.87%

and others, offered a “generally positive” view of opportunities, Citi Research analyst Michael Rollins said.

“We don’t believe T-Mobile’s relative strength [in the latest quarter] has meaningfully come at the cost of the other players, while T-Mobile continues to indicate that cable likely had a strong postpaid phone volume quarter,” Rollins wrote in a report.

Rollins added that T-Mobile’s results, as well as commentary from the company and from AT&T, suggest “a solid exit rate for postpaid phone volumes during [the fourth quarter of 2022] that could be closer to our prior 2.6 million outlook relative to our more recent estimate of 2.4 million (which included iPhone sales spill-over into [the first quarter of 2023]).”

T-Mobile’s stock was up 2.8% in morning trading Thursday. It was the best performer by far of the three big wireless carriers in 2022, rising 21% over the course of the year as AT&T’s stock dropped about 1% and as Verizon’s fell 24%.

Futures Movers: Oil prices rise after 2-day rout

Previous article

MarketWatch Options Trader: Bearishness in stocks sets in as positive seasonal factors did little to lift the market

Next article

You may also like

Comments

Leave a reply

Your email address will not be published. Required fields are marked *

More in Latest News