T-Mobile released their Q2 2013 earnings report and it looks like revenue is up for the UNcarrier. In fact, T-Mobile has said that revenues for the second quarter have grown by 8.6 percent year-over-year. This accounts for a total revenue increase of 27.5 percent. Though, T-Mobile has also credited this towards “the inclusion of MetroPCS results” for May and June 2013.
With that in mind, some of the other highlights from this report include net customer additions of 1.1 million for the quarter. This includes 678,000 total branded customer additions, which is described as being the strongest growth in four years. In keeping with numbers that are on the up and up, T-Mobile is also citing a “record low branded postpaid churn.” The churn was 1.58 percent which is a decrease of roughly 50 basis points when comparing the year-over-year.
Simply put, it looks like T-Mobile may be on to something with this whole UNcarrier approach. Some of the other details coming from this report bring the talk to the JUMP upgrade program, the current state of the T-Mobile LTE network, a bit about US Cellular spectrum and more about the MetroPCS acquisition. In regards to the JUMP program, T-Mobile has described this as being a “groundbreaking approach to more frequent upgrades” and perhaps more important to them — “successful.”
Otherwise, as we have heard previously, the T-Mobile LTE network rollout is progressing ahead of schedule. The carrier has said the network is now available for more than 157 million people across 116 markets. And looking forward they are still on track to bring that to 200 million people by years end. The US Cellular spectrum purchase is still underway. This is a $308 million cash deal that was announced back in June. This is still pending regulatory approval and is expected to close in Q4 2013.
Finally, while the MetroPCS acquisition seems to have helped this latest earnings report, there is also another side. T-Mobile has been making what they call “rapid progress” and so far have expended the MetroPCS brand into 15 new markets.