EXHIBIT 99.2 | 3 | Highlights | | --- | --- | | 4 | Customer Metrics | | 7 | Financial Metrics | | 13 | Capital Structure | | 14 | Guidance | | 15 | Contacts | | 16 | Financial and Operational Tables | https://files.reportify.cc/media/production/TMUS6f3eaf84487d4b9b096245380523bbhttps://files.reportify.cc/media/productio 2 (1) AT&T Inc. does not disclose postpaid net account additions. Comcast and Charter do not disclose postpaid phone net customer additions. Industry-leading claims are based on consensus e ...

See earnings reaction history of all stocks T-Mobile US's Historical Likelihood Of Positive Post-Earnings Return Some insights on one-day (1D) post-earnings returns: Photo illustration by Cheng Xin/Getty Images Getty Images T-Mobile US (NASDAQ:TMUS) is scheduled to announce its earnings on Wednesday, July 23, 2025, with revenue anticipated to increase by approximately 6% year-over-year to $21 billion, while earnings per share are expected to rise slightly to $2.69. This growth is likely to be fueled by post ...

Core Insights - T-Mobile, US, Inc. (TMUS) is expected to report second-quarter 2025 results on July 23, with a history of earnings surprises of 10.89% over the last four quarters and 5.31% in the last quarter [1][2] Revenue and Growth Expectations - T-Mobile is anticipated to experience year-over-year revenue growth, driven by strong postpaid service performance and a focus on expanding its 5G portfolio [2][11] - Total service revenues are estimated at $17.08 billion, reflecting a 4% year-over-year increase, while equipment revenues are projected at $3.36 billion, indicating an 8.3% rise [12] Network and Service Developments - The company has made significant investments in network infrastructure, including a $2 billion multi-year network expansion in Florida, enhancing 5G speeds and coverage for 22 million residents [6][11] - T-Mobile launched new Fiber Home Internet service plans, including Fiber 500, Fiber 1G, and Fiber 2G, featuring unlimited data and price guarantees [4][11] - The introduction of new prepaid plans with unlimited talk and text and a 5-year price guarantee is expected to attract more customers [5][11] Strategic Acquisitions - T-Mobile's acquisition of Lumos, a fiber-to-the-home Internet provider, aligns with its strategy to reach 12-15 million households by 2030 and complements its 5G Home Internet offerings [8][9] Market Position and Competitive Landscape - T-Mobile maintains a leadership position in the 5G market, focusing on enhancing connectivity and coverage nationwide [3] - Major events leveraging T-Mobile's 5G technology have highlighted the growing demand for its services, which is expected to positively impact second-quarter earnings [7]

Core Insights - T-Mobile is expected to report quarterly earnings of $2.69 per share, reflecting an 8% year-over-year increase, with revenues projected at $20.97 billion, up 6.1% from the previous year [1] Earnings Projections - Analysts have adjusted the consensus EPS estimate upward by 0.4% over the past 30 days, indicating a reassessment of initial projections [1][2] - The average prediction for 'Equipment revenues' is $3.38 billion, representing an 8.8% increase from the year-ago quarter [4] - Total service revenues are expected to reach $17.30 billion, indicating a year-over-year change of 5.3% [4] Revenue Breakdown - 'Other revenues' are estimated at $235.64 million, showing a slight decline of 0.6% from the prior-year quarter [4] - 'Wholesale and other service revenues' are projected at $708.09 million, reflecting a significant decrease of 24.5% from the previous year [5] Customer Metrics - Net customer additions for total postpaid customers are expected to be 1.29 million, down from 1.34 million in the same quarter last year [6] - Total postpaid customers are projected to reach 80.20 million, compared to 77.25 million a year ago [7] - Total customers are anticipated to arrive at 132.27 million, up from 125.89 million in the same quarter last year [8] Performance Comparison - T-Mobile shares have returned +2.7% over the past month, underperforming compared to the Zacks S&P 500 composite's +5.4% change [9]

Core Insights - The article highlights the growing significance of Fixed Wireless Access (FWA) as a successful 5G business model, particularly in markets like the US and India, contrasting with its limited presence in China [1][2][4]. Industry Overview - FWA is revolutionizing the broadband market in the US, where traditional cable operators are losing ground to mobile operators like T-Mobile and Verizon, who are leveraging FWA to expand their user base [2][5]. - In India, major operators such as Reliance Jio and Bharti Airtel are rapidly deploying FWA services, capitalizing on the low fiber coverage and the increasing demand for broadband [7][9]. Market Dynamics - According to Ericsson's report, by the end of 2030, global FWA connections are expected to reach 350 million, accounting for 35% of new fixed broadband connections [1]. - In the US, cable operators have lost approximately 1.3 million broadband users over the past six quarters, while wireless broadband providers gained 5.6 million users [5]. User Growth and Projections - T-Mobile aims to increase its FWA user base from over 6.43 million in 2024 to 12 million by 2028, while Verizon targets 8 to 9 million users by the same year [5]. - In India, FWA is projected to capture 13% of the fixed broadband market by the end of Q1 2025, with expectations to exceed 20.1 million users by 2029 [9]. Technological Advancements - FWA's growth is attributed to its relatively easy network deployment, lower costs, and competitive speeds, with T-Mobile's FWA download speeds increasing significantly [10][11]. - The article discusses potential solutions to network capacity challenges, including the exploration of new frequency bands by the FCC to support 5G and 6G development [11]. Competitive Landscape - The competition between FWA and traditional fiber broadband is not a zero-sum game, as companies like T-Mobile are also investing in fiber broadband expansion [11].

Regulatory Approval - The Federal Communications Commission (FCC) cleared T-Mobile US Inc's acquisition of a significant portion of US Cellular Corp's wireless business [1] - The acquisition also includes some of US Cellular Corp's network infrastructure [1]

Group 1 - Sensor Unlimited is part of the investing group Envision Early Retirement, which focuses on generating high income and growth through dynamic asset allocation [2] - The group offers two model portfolios: one for short-term survival and withdrawal, and another for aggressive long-term growth [2] - Monthly updates on holdings, tax discussions, and ticker critiques are provided to members [2] Group 2 - Sensor Unlimited has a PhD in financial economics and has spent the last decade covering the mortgage market, commercial market, and banking industry [3] - The focus areas include asset allocation and ETFs related to the overall market, bonds, banking and financial sectors, and housing markets [3]

Core Viewpoint - T-Mobile is experiencing reduced regulatory scrutiny following its commitment to end diversity, equity, and inclusion (DEI) practices, coinciding with the closure of an antitrust investigation into its proposed $4.4 billion merger with UScellular [1][2][5] Group 1: Regulatory Developments - The Justice Department announced the closure of its antitrust probe into T-Mobile's merger with UScellular, indicating no intervention in the proposed deal [1][5] - T-Mobile's decision to end DEI policies aligns with a broader trend among companies since the reelection of President Donald Trump [2] - The company is also seeking approval for an additional acquisition of the internet service provider Metronet [3] Group 2: Industry Concerns - Assistant Attorney General Gail Slater expressed concerns regarding ongoing consolidation in the wireless services industry, particularly the potential hindrance to the emergence of a fourth national player [4] - The Department of Justice evaluated the potential harm to competition and consumer effects, concluding that the benefits of the transaction outweighed the potential harms [5]

Mergers and Acquisitions - The Justice Department will not challenge T-Mobile's $4.4 billion purchase of US Cellular's wireless operations and some spectrum assets [1] Regulatory Approval - The decision comes despite some concerns about the deal [1]

Industry Analysis - Key Bank认为T-Mobile在光纤方面存在不足，消费者价值主张迅速恶化，因此下调了T-Mobile的评级至减持[1] - 行业正在探讨T-Mobile股价下跌的原因，可能是由于其光纤短缺相对于AT&T等竞争对手而言[2] - T-Mobile曾经是市场上的大赢家，但现在股价表现不佳，了解其背后的原因是重要的[2][3] Investment Strategy - Key Bank downgraded T-Mobile to underweight [1] - 市场参与者应谨慎对待Nvidia，避免盲目跟风[3]