The FINANCIAL — T-Mobile US, Inc. provided a preliminary view of several key customer results for the third quarter of 2016 that continue to show consumers are flocking to the Un-carrier in a quarter that saw the Company introduce T-Mobile ONE, announce key network milestones and witness the strongest iPhone pre-order in Company history.
As of the first half of September the Company has already surpassed Q2 2016 levels in key subscriber performance metrics including branded postpaid phone and prepaid net customer additions. T-Mobile also shared that overall industry postpaid porting ratios are improving vs. the previous quarter, including ports with each of the three major wireless carriers over Q2 2016, according to T-Mobile.
T-Mobile’s customer flow in Q3 2016 continues to come from all three major wireless carriers who are generous contributors and these numbers are already ahead of Q2 2016 full quarter results. T-Mobile estimates that Verizon has contributed over 250K postpaid phone and prepaid net customer additions to T-Mobile quarter-to-date, while AT&T has donated nearly 400K and nearly 300K have come from Sprint. In addition to these, T-Mobile continues to see strong flows of new first time customers coming to market, customers adding lines to their existing accounts and to a lesser degree switching from brands other than the big 3. Quarter to date the Company has added approximately 753K branded postpaid phone net additions and 650K prepaid net customer additions.
The Company reiterates its commitment to its current financial guidance and full year outlook and will provide a full update on its growth outlook for 2016 as part of its Q3 2016 earnings report in late October.
“All three wireless carriers tried to match Un-carrier signature moves this quarter, like getting rid of overages and introducing unlimited data plans, but as usual, they came up short,” said John Legere, President and CEO of T-Mobile. “Our Q3 results so far have surpassed Q2 in postpaid phone and prepaid nets, and we are adding customers from ALL of the other guys at an increasing rate.”
In just over 3 years the Un-carrier has gone from zero LTE coverage to covering nearly 312 million people and now has near parity with the once dominant Verizon coverage, reaching 99.7% of the consumers Verizon does. T-Mobile has built the nation’s densest, highest-capacity LTE network, with more spectrum per customer than either Verizon or AT&T, and more cell sites per customer than the Duopoly as well. The Company has been first to market with a number of network technology advancements such as VoLTE, 4×4 MIMO, Wi-Fi calling and EVS/HD Voice Services to fuel its growth.
“T-Mobile covers nearly everyone Verizon reaches. I’m calling it. Verizon’s coverage advantage is gone,” said Neville Ray, CTO of T-Mobile. “Now, Verizon’s rebranding their older, slower network as ‘LTE Advanced,’ highlighting technology we launched two years ago. Even with their ‘new’ technology T-Mobile’s LTE network is still faster – just ask OpenSignal, Ookla or the FCC.”
The Company has been on a consistent and aggressive push to upend the wireless industry for more than three years now and has completely rebuilt its network at the same time.
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