T-Mobile Raises 2021 Postpaid Subscriber Additions Forecast

T-Mobile US has raised its full-year postpaid subscriber net additions forecast after exceeding analyst Q1 expectations on Tuesday - a boost highly-attributed to growing demand for the wireless carrier’s 5G services as more people switch to remote work amid COVID-19. 

T-Mobile has had a head start in vamping up its 5G services thanks to its purchase of a smaller rival - Sprint earlier last year, which helped the company tap into a surge in consumption of internet services during the COVID-19 pandemic.

The company added 773,000 postpaid phone subscribers in the quarter ended March 31, above estimates of 475,300, whereas total revenue rose to $19.76 billion from $11.11 billion a year earlier, compared with estimates of $18.90 billion.

They now expect 2021 postpaid net customer additions of 4.4 - 4.9 million, compared to a previous forecast of 4.0 - 4.7 million.

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