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T-Mobile has caught up with its cost-cutting program



T-Mobile US Inc. Continue adding more customers in Q3 and telling investors the cost-cutting plan they come up with after Sprint Corp’s takeover is happening ahead of time.

Bellevue, Wash., The company says its recent merger with rival Sprint will yield $ 1.2 billion in annual savings over the next year. That includes more than $ 600 million from avoidable network costs and about $ 500 million from lower costs, mainly by shutting down old Sprint stores.

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T-Mobile ended September 30 with an additional 689,000 postpaid phone subscribers, adding valuable market share to customers who pay monthly service charges after being made available. It also reported net gains of 56,000 prepaid subscribers, most of whom use the Metro brand.

Last month, Verizon said it added 283,000 postpaid phone connections in the same three months. AT&T has net sales of 645,000 postpaid phone customers.

The wireless market remains relatively calm over the summer when the coronavirus epidemic discourages customers from visiting mobile phone stores, leaving carriers with less opportunity to rob customers from their competitors. . Analysts expect competition to recover later this year as the launch of new iPhone 12 models from Apple Inc. providing operators with a new attraction for customers who are considering switching suppliers.

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In the third quarter, T-Mobile reported a profit of $ 1.25 billion, up from $ 870 million over the one-year period prior to Sprint’s acquisition. The result translates to $ 1 profit per share, down from $ 1.01 a share a year earlier when there are fewer total outstanding shares. Revenue increased 74% to $ 19.27 billion, thanks to its newly acquired Sprint customer base.

T-Mobile absorbed its smaller competitor in April, leaving the country with three major national mobile phone carriers. The company has been working for the past few months to eliminate cell towers and stores deemed unnecessary while upgrading other network infrastructure with devices that support fast fifth-generation wireless standards. than.

Spectrum licenses obtained from Sprint have helped T-Mobile engineers expand their 5G reach. The company says its existing 5G towers cover some 270 million Americans.

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