T-Mobile Grows, Stock Down Amid Possible Challenges From Rivals
T-Mobile had industry-leading postpaid net phone adds of 1.6 million in Q4, with 5.5 million in all of 2020, said a Thursday release. The carrier projected it will have to spend as much as $3 billion before taxes combining its…
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
stores, employees and infrastructure with those of Sprint, which it acquired last year. Integration costs were about $1.9 billion last year. Some 25 percent of Sprint postpaid customer traffic has been moved to the T-Mobile network. Year-over-year income was flat at $750 million on revenue of $20.3 billion. T-Mobile’s Ultra Capacity 5G now covers 106 million people, is projected to cover 200 million people nationwide by year-end. “If we play our cards right, T-Mobile is positioned to stay ahead in the 5G race for years to come,” said CEO Mike Sievert in a call with analysts. Officials said addressing Sprint’s high churn rate will take some time. “T-Mobile has a powerful advantage, and they mean to use it,” New Street’s Jonathan Chaplin told investors: “The only challenge we see is that, if AT&T continues to give away free iPhones to retain customers (and Verizon gets more aggressive) they may dampen switching.” T-Mobile stock closed down 4.1% Friday to $125.28.