T-Mobile US Inc (NASDAQ: TMUS) reported net income of $479 million or $0.56 a share in the first quarter of 2016. In comparison, the company suffered a net loss of $63 million or a loss of $(0.09) a share in the year-ago quarter. The latest quarter results included $0.46 a share of after-tax impact of the spectrum gain. Excluding the gain, its earnings would have been $0.10 a share, which was in line with the Street analysts' expectations.
T-Mobile's total revenues grew 10.6 percent year-over-year to $8.6 billion, which was slightly above the Street analysts' predictions of $8.43 billion. The company said its service segment witnessed 13 percent year-over-year revenue growth to $6.6 billion.
The telecom service provider said 2.2 million net additions were recorded in the first quarter. The company claimed it was the 12th straight quarter of more than one million and sixth time in the last seven quarters that it achieved more than two million net additions of subscribers.
T-Mobile President and CEO John Legere said, "I can't think of a better way to start off 2016 than by capturing all of the industry's postpaid phone growth – again! Our model is working and the business momentum is accelerating across the board. Customers are joining the Un-carrier revolution and that is producing incredible financial results. A winning formula for customers and TMUS shareholders!"
Moving ahead, the company said it boosted its adjusted EBITDA to $9.7 to $10.2 billion from $9.1 to $9.7 billion estimated earlier. This guidance included the aggregate impact from leasing and Data Stash of about $0.7 to $1.0 billion, and the spectrum gain of $0.6 billion recognized in the first quarter of 2016. The company reiterated its cash CAPEX of $4.5 - $4.8 billion for the year 2016.
Shares of the company traded 2.39 percent higher on Monday.
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