T-Mobile beats revenue estimates on higher subscriber additions

(Reuters) - T-Mobile U.S. Inc on Thursday beat Wall Street estimates for quarterly revenue, as the wireless carrier added more net new phone subscribers who pay a monthly bill.

The third-largest U.S. mobile carrier said it added a net of about 1 million phone subscribers in the fourth quarter compared with 891,000 additions a year earlier. Analysts were expecting 912,000 new subscribers, according to research firm FactSet.

The company's net income fell to $640 million, or 75 cents a share, in the quarter ended Dec.31, from $2.71 billion, or $3.11 a share, a year earlier, when it recorded a big tax related one-time gain.

 

Revenue rose to $11.45 billion from $10.76 billion. Analysts were expecting revenue of $11.39 billion, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York; Editing by Arun Koyyur)