T-Mobile Misses Sales, Subscriber Estimates as Industry Slows
- Company raised wireless subscriber forecast for the year
- Becomes the third of the big three carriers to miss targets
T-Mobile store in New York.
Photographer: Yuki Iwamura/BloombergThis article is for subscribers only.
T-Mobile US Inc. missed Wall Street’s estimates for revenue and mobile phone subscriber growth but still raised its forecast for wireless customer gains for the year. The results, coming after those of its peers, may be a sign of cooling in the consumer spending environment.
The No. 2 wireless carrier in the US added 538,000 mobile phone customers in the first quarter, fewer than the 551,621 analysts predicted. T-Mobile also posted earnings of $1.58 a share on $19.6 billion in revenue. Analysts were looking for EPS of $1.48 on $19.8 billion in sales.