T-Mobile US Q3 Profit Declines But Beats Street View; Lifts 2022 Wireless Subscriber Outlook

(RTTNews) - T-Mobile US, Inc. (TMUS) reported lower income in the third quarter, hit by merger-related costs and other expenses. Revenues also declined from last year. The company once again lifted its fiscal 2022 outlook for wireless subscriber additions.

The company posted net income of $508 million or $0.40 per share for the third quarter, down from $691 million or $0.55 per share in the same period last year. The company attributed the decline in income due due to merger-related costs and loss related to the anticipated sale of the wireline business amounting to a combined impact of $1.8 billion, net of tax, or $1.41 per share.

Adjusted EBITDA, however, rose to $7.04 billion from $6.81 billion in the prior-year period.

Total revenues also declined to $19.5 billion from $19.6 billion a year ago.

On average, 12 analysts polled by Thomson Reuters expected the company to post earnings of $0.04 per share on revenues of $19.9 billion for the third quarter.

Looking ahead, for fiscal year 2022, the company's post-paid net customer additions are expected to be between 6.2 million and 6.4 million, up from the earlier guidance of 6.0 million to 6.3 million.