Mobile Raises Subscriber Forecast as Price War Rages On

Mobile Raises Subscriber Forecast as Price War Rages On”

T-Mobile added 1.3 million total net subscribers, its 17th consecutive quarter of adding more than one million customers. T-Mobile sells prepaid service through its MetroPCS brand.

T-Mobile posted quarterly earnings on Wednesday that far exceeded Wall Street's wildest expectations. It said the period was a record-breaking quarter in a number of areas, including record service revenue of $7.4 billion, strong net income and record-low postpaid phone churn.

Analysts, on average, estimated T-Mobile would earn 38 cents a share and post revenue of $9.8 billion, according to Yahoo Finance.

Sources also told Reuters that Warren Buffett's Berkshire Hathaway Inc and John Malone's Liberty Media Corp were exploring an investment of US$10 billion to US$20 billion in Sprint.

Unlike in previous quarters, T-Mobile is the first of the big carriers to report results, so we won't know for sure how well it fared relative to its competitors.

The company plans to open 1,500 T-Mobile stores and 1,500 MetroPCS stores this year.

Financials: Earnings more than doubled to $581 million from $225 million a year earlier, as MarketWatch noted, as earnings per share jumped to 67 cents a share from 25 cents a share. Sprint is the usual suspect when it comes to T-Mobile rumors.

The numbers underscore the fact that despite the rival carriers throwing themselves at you for your business, T-Mobile continues to win over new customers. It said its deployment of 700 MHz spectrum is "essentially complete", having gone live in 575 markets and covering 271 million POPs, and it plans to begin deploying services on the 600 MHz airwaves it won during the FCC's recent incentive auction in the next several weeks. Despite T-Mobile's best efforts, Cowen says that Verizon remains positioned as the top carrier in the U.S. Cowen's Synesael says that both T-Mobil and Sprint could pick up some ground during the next year if they enter new markets and continue to claim that their network is as good as Verizon's pipeline.

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