T-Mobile US Inc. (NASDAQ: TMUS) shares surged after the telecommunications company reported quarterly earnings. T-Mobile showed an impressive growth in customer base, expanding its market share and as a result making competitors more worried of them.
The company reported it added two million new customers in the third quarter alone. T-Mobile also reported a profit of $366 million, a substantial increase from $138 million a year earlier. Revenue grew 18% to $9.2 billion, which is in line with analyst’s expectations.
John Legere, President and CEO of T-Mobile said in a statement, “That’s 14 quarters in a row that T-Mobile has won share from the competition… The Un-carrier is delivering. We took share and grew our customer base while producing both financial growth and shareholder value. Most importantly, we are delivering results for both customers and shareholders alike.”
In addition to attracting new attracting customers, it also seems T-Mobile is able to keep them longer, “Branded postpaid phone churn was 1.32% in the third quarter of 2016, up 5 basis points compared to 1.27% in the second quarter of 2016 and down 14 basis points compared to 1.46% in the third quarter of 2015.”