T-Mobile saw continued customer growth in the first quarter, adding 1.3 million net subscribers across its phone and internet business, the company said during its first-quarter earnings call Thursday.
The carrier reported 538,000 net phone additions, which is the metric used by the industry to indicate success and dependable revenue. T-Mobile said its 5G network reaches 98% of Americans and that its high-speed, “super-capacity” 5G network now covers 275 million people, with a goal of reaching 300 million by the end of the year.
Ulf Ewaldsson, executive vice president of network at T-Mobile, said it’s getting increasingly difficult to reach the last segments of the American population given geography’s limitations. “I would say it’s three times harder for every 10 [thousand people] add,” he said.
Ewaldsson noted that T-Mobile has 150MHz of 5G spectrum dedicated to the mid-band, and as the carrier moves more frequency from 4G LTE to 5G, it will end the year with more than 200MHz on the mid-band. “We are very confident that we will make it [our year-end goal] With our construction plan today.
During the call, CEO Mike Seifert described the progress T-Mobile has made on the phone Three years since the merger of the carrier With Sprint, in April 2020, the merger had been in the works for three years before receiving regulatory approval. Seifert said the six-year journey will enable the company to “jump AT&T and Verizon from last place in the LTE era to first place in the 5G era.”
Seifert also touted the carrier’s new pair of slightly higher-priced phone plans Go5G and Go5G Plus, which adds mobile hotspot data and roaming privileges in addition to the benefits of the company’s existing Magenta plan. The plans are aimed at power users who want more connectivity on the go, but the Go5G Plus plan also gives subscribers access to the same device upgrade offers that are normally only available to new customers.
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The CEO also made a call to Congress to restore the FCC’s authority to put up new wireless spectrum for auction. That power failed to expand. lo and behold Expired March 9th. Although he didn’t indicate that T-Mobile was looking for more spectrum, he said there was “never” enough band available for the wireless industry to ensure American competitiveness. Earlier in April, T-Mobile chief technology officer Neville Ray pleaded in a blog post In order for the FCC to award T-Mobile the 2.5GHz licenses it won in Auction 108 back in March, which, he said, is “caught in a regulatory limbo.”
T-Mobile had 523,000 net customer additions due to its high speed home internet service, which uses fixed wireless access on its 5G network. When asked during earnings contact about the carrier Wired fiber internet experience In select areas, Sievert declined to share any updates other than to note that T-Mobile is “very committed to being the broadband winner.” Instead, carrier executives have championed 5G home internet as a way to reach customers who aren’t already signed into their mobile service.
T-Mobile reported $15.5 billion in revenue for the quarter, up 3% from the same period last year. This broke down to $1.58 per share, which was higher than the $1.48 per share expected by analysts polled by Yahoo Finance.
T-Mobile shares were down 2.79% in after-hours trading.
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