T-Mobile toppled Wall Street expectations on Thursday, reporting huge subscriber growth that blew analyst projections out of the water.
T-Mobile added a net 688,000 contract customers in the second quarter, including wireless broadband customers and phone users.
All told, that’s well ahead of the average forecast of 140,000 from four analysts, whose estimates ranged from 33,000 to 254,000.
T-Mobile ended four years of customer losses thanks to a mammoth marketing push and the recent acquisition of the Apple iPhone.
The nation’s fourth largest carrier says the iPhone alone accounted for just under one-third of the company’s branded gross customer additions as well as upgrade smartphone sales since the carrier began offering the device last spring.
“T-Mobile’s Un-carrier approach has clearly resonated with consumers. By fixing the things that drive them mad, like contracts and upgrades, and freeing them from the two-year sentences imposed on them by our competitors, they are choosing the new T-Mobile in unprecedented numbers,” says T-Mobile President and Chief Executive John Legere. “We are just beginning and we will continue to apply this innovative thinking to the Un-carrier offers we create and to the internal operations of our company, which taken together are driving significant shareholder value creation.”