T-Mobile’s revenue in the second quarter was $19.7 billion, a slight decrease from the same period last year, which did not meet analysts’ expectations.
However, the wireless operator, headquartered in Bellevue, Washington, added 1.7 million new customers, up from 1.3 million a year ago, the fastest growth in the second quarter of its history. The company put forward guidance for this year.
Mike Sievert, CEO of T-Mobile, said in an interview with Bloomberg that the company expects to add 6 to 6.3 million new users this year, higher than the record high of 5.5 million last year.
T-Mobile shares rose more than 4% in Wednesday’s trading. This stock is up 21% from last year.
The company reported a net loss of $108million, or $0.09 per share, while its net income for the same period last year was $978million, or $0.78 per share.
The company attributed the loss in this quarter to the merger related costs and legal related expenses caused by the cyber attack in August 2021.
T-Mobile’s Internet services increased by 560000 broadband users, faster than the 338000 Home Internet users increased in the first quarter.
The company is betting on its home Internet service and small town initiative as part of a broader effort to expand broadband infrastructure across the country.