T-Mobile Results Solid, but Many Questions on Sprint Deal, Analysts Say
T-Mobile released another quarter of solid results (see 1910280060) but did little to address concerns about the pending buy of Sprint, New Street’s Jonathan Chaplin told investors. “Results were better than consensus again, and consensus is used to this trend,”…
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Chaplin wrote: “Guidance was increased again, and now sits above where consensus is for the year, and we are pretty sure management is leaving something in the tank to beat next quarter too.” Little is changing on the Sprint deal, he said: “The deal is still … the deal. Management didn’t say anything that will materially move the odds.” T-Mobile could fall behind on 5G if approval is long delayed, said MoffettNathanson’s Craig Moffett. “Delivering a compelling user experience will require densification in mid-band,” he said: “Their mid-band strategy, if the deal is approved, is to use Sprint’s 2.5 GHz spectrum. But what is it if the deal is rejected?”