T-Mobile US TodayTMUST-Mobile US$236.77 +4.00 (+1.72%) 52-Week Range$161.61▼$276.49Dividend Yield1.49%P/E Ratio24.49Price Target$256.80Add to WatchlistAs a disruptor in the computer and technology sector, specifically the telecommunications industry, T-Mobile US NASDAQ: TMUS proudly calls itself the "Un-carrier." This originated in March 2013, when they set out to differentiate themselves against the incumbent telecom “carriers” AT&T Inc. NYSE: T and Verizon Communications Inc. NYSE: VZ. T-Mobile pioneered ...

Having always been a learning machine, I speak five languages, have worked as a sales agent, project manager, translator, computer consultant, software engineer, built a house with my own hands, published books and essays on literature, philosophy and art, have written for magazines of various kinds in different countries. After retiring early in 2004, little by little, I have become a fund manager for some friends and myself, following the principles of value investing laid out by Benjamin Graham, Phil Fis ...

投资者持续关注全球贸易格局，周五美股延续本周涨势： 美股盘前，据上海证券报，外交部发言人郭嘉昆回应称中美并未在谈判，驳斥美方混淆视听的说法。特朗普则 表示将针对不同国家设定关税，一些国家"可能会发回来要求调整，我会考虑"。受此影响，美股开盘震荡，标 普500一度较开盘下跌0.6%。 美股早盘，美国密歇根大学消费者信心公布数据，处于历史最低位附近，长期通胀预期创1991年以来最高。数 据公布后，今年美国经济放缓的预期升温，拖累美国国债收益率走低。美国10年期国债收益率保持大约3.5个 基点的跌幅，10年期美国国债收益率一度逼近4.25%。 美股尾盘，特朗普声称不太可能再批准90天的关税暂停，标普500指数涨幅收窄。道琼斯指数和小型股指数当 日表现不佳，收盘时勉强回落至持平。受科技股提振，纳斯达克指数跑赢大盘。 本周伊始市场承压，投资者普遍处于"抛售美元资产"的交易中。然而，受特朗普贸关税态度的缓和，以及他不再威 胁要罢免美联储主席鲍威尔的影响，风险偏好情绪回归。本周油价低位反弹收盘持平，比特币价格自2月份以来首次 突破 9.5万美元。避险品种黄金价格在周中创下3500美元的历史新高后，回撤至3300美元上方。 ...

Core Viewpoint - Goldman Sachs analyst James Schneider maintains a Buy rating on T-Mobile US, Inc. with a price target increase from $280 to $285, despite expectations of lower stock trading following results that showed in-line financial metrics and postpaid phone net additions [1] Financial Performance - T-Mobile reported revenue of $20.89 billion, exceeding Schneider's estimate of $20.78 billion and the Street's estimate of $20.64 billion, driven by an increase in equipment revenue [6] - Postpaid phone net additions were +495k, slightly above Schneider's estimate of +486k but below the Street estimate of +499k [6] - High-speed internet net additions were +424k, surpassing both Schneider's estimate of +399k and the Street estimate of +396k [6] Guidance and Market Expectations - T-Mobile updated its 2025 guidance, maintaining postpaid net customer addition guidance at 5.5-6.0 million, compared to the analyst estimate of 6.03 million and the Street estimate of 5.87 million [7] - Investors had anticipated a greater upside in postpaid phone net additions and guidance, based on historical patterns and recent acquisitions [2] Industry Context - The overall industry phone net additions for major carriers, including T-Mobile, were +853k in Q1 2025, reflecting a year-over-year increase of 203k, but a decrease from +1,056k in Q1 2024, indicating a slowing growth rate [4] - On the residential broadband side, net additions were +596k in Q1 2025, down 33k year-over-year, compared to 629k in Q1 2024, suggesting a slowdown in the industry [5] - Despite higher promotional activity and churn metrics across wireless carriers, the wireless market remains healthy due to recent plan price increases [3]

Core Insights - T-Mobile, US, Inc. reported strong first-quarter 2025 results, with both net income and revenues exceeding Zacks Consensus Estimates, driven by significant postpaid customer growth [1][2]. Financial Performance - Net income for Q1 2025 was $2.95 billion, or $2.58 per share, reflecting a 24.4% year-over-year increase from $2.37 billion or $2 per share [2]. - Total revenues reached $20.88 billion, up from $19.59 billion in the same quarter last year, surpassing the consensus estimate of $20.57 billion [2]. Segment Results - Total service revenues were $16.92 billion, a 5.2% increase from $16.09 billion year-over-year, primarily driven by demand for postpaid services [3]. - Postpaid services generated $13.59 billion in revenues, marking a 7.6% year-over-year growth [3]. - Prepaid services revenues increased to $2.64 billion from $2.4 billion in the previous year [5]. - Equipment revenues rose to $3.7 billion, up from $3.25 billion, attributed to a higher average revenue per device sold [6]. Customer Growth - T-Mobile added 1.3 million postpaid net customers and 205,000 postpaid net accounts, both leading the industry [4]. - The postpaid phone churn rate was recorded at 0.91%, with postpaid average revenues per account increasing to $146.22 from $140.88 year-over-year [4]. Operating Metrics - Total operating expenses increased to $16.08 billion from $15.59 billion, while operating income rose to $4.8 billion from $3.99 billion [7]. - Core adjusted EBITDA was $8.3 billion, up from $7.65 billion year-over-year [7]. Cash Flow and Liquidity - Cash generated from operating activities was $6.84 billion, compared to $5.08 billion in the prior year [8]. - Adjusted free cash flow increased to $4.39 billion from $3.34 billion year-over-year [8]. - As of March 31, 2025, T-Mobile had $12 billion in cash and cash equivalents and $76 billion in long-term debt [8]. Outlook - For 2025, T-Mobile anticipates postpaid net customer additions between 5.5 million and 6 million, with core adjusted EBITDA estimated at $33.2-$33.7 billion [9]. - Expected cash from operating activities is projected to be within $27-$27.5 billion, with adjusted free cash flow anticipated in the range of $17.5-$18 billion [9].

Core Insights - T-Mobile US Inc's stock has declined by 9.2% to $238.17 despite reporting better-than-expected first-quarter earnings and revenue, primarily due to disappointing subscriber growth [1] - The company added 495,000 monthly bill-paying customers, which was better than competitors AT&T and Verizon, but fell short of analysts' expectations of 506,400 [1] - Year-to-date, T-Mobile's shares are down 8.2%, moving further away from the March 3 record high of $276.49 [2] Options Activity - T-Mobile has seen significant options activity with 8,179 calls and 17,000 puts exchanged, more than double the average daily options volume [3] - The most active options contracts include the weekly 5/2 227.50-strike put and the 235-strike put, with new positions being opened in both [3] Analyst Ratings - RBC Capital is the only firm to adjust its price target post-earnings, raising it to $265 from $260 [4] - Among 30 analysts covering T-Mobile, 19 have a "buy" or better rating, with a 12-month consensus price target of $269.68, representing a 14.2% premium to current levels [4]

Financial Data and Key Metrics Changes - T-Mobile US reported a strong quarter with postpaid service revenues growing 8% year over year and overall service revenues increasing by 5%, which is more than triple the growth rate of the next closest competitor [29][30] - Core adjusted EBITDA also grew 8% year over year, double the average of the wireless peer group [29] - Adjusted free cash flow reached $4.4 billion, a new Q1 record, translating to an industry-leading adjusted free cash flow conversion from service revenues of 26% [30][36] Business Line Data and Key Metrics Changes - The company achieved a record for total postpaid net additions in Q1, with 1.3 million total postpaid net additions and leading in overall gross adds across every postpaid category [11][67] - Postpaid ARPA grew nearly 4%, marking the highest Q1 growth in eight years, with 60% of lines on new accounts loading onto premium plans [14][29] - In broadband, T-Mobile US led the industry with 424,000 net additions in 5G broadband, achieving the lowest churn ever and the highest Q1 ARPU growth [16][29] Market Data and Key Metrics Changes - T-Mobile US continued to grow its share of households across the top 100 markets, not just in smaller markets and rural areas [12] - The company reported strong momentum in the T-Mobile US for Business segment, leading the industry in both total postpaid and postpaid phone net additions [13] Company Strategy and Development Direction - The company is focused on delivering thoughtful, profitable, and durable growth, leveraging its best network and digital capabilities to enhance customer experience [31][48] - T-Mobile US is set to officially launch T Fiber later this quarter, following the completion of the Lumos transaction, aiming to expand broadband choices for more Americans [18][19] - The company is also innovating with T Satellite, which aims to provide seamless connectivity for users, and is priced competitively to attract customers from competitors [25][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain growth despite macroeconomic uncertainties, noting that customer acceptance of price increases has been strong [61][62] - The management team emphasized that the competitive landscape remains intense but highlighted that overall industry cash flows are significantly higher than in previous years, indicating a healthy market [64][65] - The company expects to deliver total postpaid net customer additions of between 5.5 million and 6 million for the year, with an increase in postpaid ARPA growth expectations to at least 3.5% [34][35] Other Important Information - The company is actively monitoring the impact of potential tariffs on handsets, indicating that customers may bear the cost, which could affect upgrade rates [128][129] - T-Mobile US is seeing stability in its prepaid business, with nearly 25.5 million prepaid customers and a reduction in churn year over year [103][104] Q&A Session Summary Question: What is the biggest opportunity ahead for T-Mobile US? - Management highlighted the opportunity to combine the company's strong culture with its best network and digital capabilities to enhance customer service [48] Question: Can you provide more details on T Fiber and its go-to-market strategy? - The company plans to leverage its existing customer base and retail distribution to drive T Fiber's growth, especially targeting customers on the fixed wireless waitlist [52] Question: How is the company managing churn in light of price increases? - Management noted that the price increases have been well-received, and churn is expected to be temporary as customers adjust to new pricing [62] Question: What is the outlook for broadband additions and fiber growth? - Management expressed confidence in maintaining high-speed Internet fixed wireless additions above 400,000 and anticipates strong growth from fiber once the MetroNet transaction closes [112][119] Question: How is the company addressing potential tariffs on handsets? - Management indicated that any tariff impacts would likely be passed on to customers, potentially slowing upgrade rates, but currently, no material impact is anticipated [128][130]

T-Mobile (TMUS) came out with quarterly earnings of $2.58 per share, beating the Zacks Consensus Estimate of $2.45 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 5.31%. A quarter ago, it was expected that this wireless carrier would post earnings of $2.17 per share when it actually produced earnings of $2.57, delivering a surprise of 18.43%.Over the last four quarters, the company ha ...

Financial Data and Key Metrics Changes - T-Mobile reported a strong Q1 2025, with postpaid service revenues growing 8% year over year and overall service revenues increasing by 5% [21][22] - Core adjusted EBITDA also grew 8% year over year, which is double the average of its wireless peer group [22] - Adjusted free cash flow reached $4.4 billion, marking a new Q1 record and translating to an industry-leading adjusted free cash flow conversion from service revenues of 26% [22] Business Line Data and Key Metrics Changes - T-Mobile achieved a record of 1.3 million total postpaid net additions in Q1, leading the industry in both total postpaid and postpaid phone net additions [10][21] - The company added 424,000 net customers in its 5G broadband segment, marking the thirteenth consecutive quarter of leading the broadband industry in customer growth [13] - Postpaid average revenue per account (ARPA) grew nearly 4%, the highest Q1 growth in eight years [11] Market Data and Key Metrics Changes - T-Mobile continued to grow its share of households across the top 100 markets, not just in smaller markets and rural areas [10] - The company reported that 60% of lines on new accounts are opting for premium plans, which is about double the current base [11] - The broadband business saw its highest ever Q1 ARPU growth, indicating strong customer demand [13] Company Strategy and Development Direction - T-Mobile is focused on delivering thoughtful, profitable, and durable growth, leveraging its best network and digital capabilities to enhance customer experience [23] - The company is set to officially launch T Fiber later in Q2, following the completion of its acquisition of Lumos, aiming to expand broadband choices for more Americans [14] - T-Mobile is also innovating with its T Satellite service, which aims to keep customers connected automatically, with commercial service starting in July [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to maintain growth despite macroeconomic changes, emphasizing a strong focus on execution and customer service [8][23] - The management team highlighted that the competitive landscape remains intense, but T-Mobile's differentiated value proposition continues to resonate with customers [60] - The company expects to deliver total postpaid net customer additions of between 5.5 million and 6 million for the full year, with an increase in postpaid ARPA growth expectations to at least 3.5% [26] Other Important Information - T-Mobile's digital platform, TLIFE, has seen significant adoption, with over half of postpaid phone upgrades completed digitally by the end of Q1 [20] - The company is actively pursuing M&A opportunities, including the recent acquisition of Lumos and plans for MetroNet, which are expected to contribute positively to service revenues [29][75] Q&A Session Summary Question: What is the biggest opportunity ahead for T-Mobile? - Management highlighted the combination of a strong customer-focused culture, the best network, and advanced digital capabilities as key opportunities for growth [36][38] Question: Can you provide more details on T Fiber and its market approach? - T-Mobile plans to leverage its existing customer base and retail distribution to drive T Fiber's growth, particularly targeting customers on the fixed wireless waitlist [40][41] Question: How is T-Mobile managing pricing and churn? - Management indicated that recent price increases have been well-received, and churn rates are expected to be temporary as customers adjust [52][53] Question: What is the outlook for broadband contributions to postpaid net additions? - While specific guidance was not provided, management expressed confidence in maintaining strong growth in broadband and fiber segments [102] Question: How is T-Mobile addressing potential tariff impacts on handsets? - Management noted that any significant tariffs would likely be passed on to customers, potentially affecting upgrade rates, but currently, no material impact is anticipated [110][111] Question: What is the current state of the prepaid market? - T-Mobile's prepaid segment remains stable, with continued growth and reduced churn year over year, indicating resilience in this market [88][90]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number: 1-33409 T-MOBILE US, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Delaware 20-0836269 12920 SE 38th Street Bellevue, Washington (Address of principal executive offices) 98006-1350 (Zip Code) (425) 378-4000 (Registrant's telephone number, including area code) Securities reg ...