T-Mobile beats wireless subscriber additions estimates on 5G demand

T-Mobile US Inc said on Thursday it added more monthly-bill-paying phone subscribers than expected during the second quarter, helped by higher demand for 5G-related services and devices driven by remote working and learning trends.

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The wireless carrier`s subscriber growth also got a boost from its stores reopening and the customer base from its acquired peer Sprint.

T-Mobile expects 2021 postpaid net customer additions between 5 million and 5.3 million, compared with prior forecast of 4.4 million to 4.9 million, it said.

The company added 627,000 postpaid phone subscribers in the reported quarter, above FactSet estimates of 560,500.

Total revenue rose about 13% to $19.95 billion, compared with estimates of $19.34 billion, according to IBES data from Refinitiv.