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T-Mobile came up with best ever customer growth

On Wednesday, T-Mobile US Inc has reported an addition of 1.4 million to its net phone subscriber who pays a monthly bill, beating the Wall Street estimates for new monthly subscribers in the fourth quarter.

T-Mobile is the third-largest wireless carrier in the United States and according to research firm FactSet, it was expected to be adding 985,000 new subscribers in fourth quarter but T-Mobile beat that estimate with a wider lead.

In total it is 2.4 million customers that flocked to T-Mobile in the fourth quarter of 2018, out of which 1.4 million were postpaid customers, for which company has termed the quarter as best quarter ever for attracting new customers.

To scale up its ability to better compete with bigger rivals like AT&T Inc and Verizon Communications Inc, last month T-Mobile remained successful to get go ahead from two national security reviews for its acquisition deal to get its smaller rival Sprint Corp.

A day earlier Verizon also reported to beat the Wall Street estimates for new monthly subscribers by adding 650,000 new monthly subscribers in fourth quarter, which also came up significantly higher than estimates of 355,600 by FactSet for the same period.

T-Mobile succeeded to retain more customers to its services as percentage of subscribers leaving a service remained down in the fourth quarter and that came out as 0.99 percent which was 1.02 percent in the quarter ended Sep 30 last year.

Previously in third quarter, T-Mobile also beat analysts’ estimates for profit and net new phone subscribers which was came on the heels of its competitive plans for wireless services and iPhone trade-in offers to beat its bigger rivals.

Seemingly, T-Mobile beat all its rivals by securing more number of new subscribers as currently its numbers are higher than the Verizon whereas AT&T and Sprint have not yet announced their numbers in terms of customer growth.

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James Moon

Written by James Moon

James Moon:- Business and Services
I am James Moon and I give “News Stories World” an insight into the most recent news hitting the “Business and Services” sector in Wall Street. I have been an independent financial adviser for over 13 years in the city and in recent years turned my experience in finance and passion for journalism into a full time role. I perform analysis of Companies and publicize valuable information for shareholder community.

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