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T-Mobile beats estimates for phone subscribers

FILE PHOTO: A T-Mobile store is pictured in the Manhattan borough of New York, New York, U.S., May 20, 2019. REUTERS/Carlo Allegri

(Reuters) - T-Mobile US Inc TMUS.O on Thursday beat analysts' estimates for second-quarter net new phone subscribers who pay a monthly bill, boosted by the U.S. mobile carrier's competitive wireless plans aimed at fending off its bigger rivals.

The third-largest U.S. mobile carrier said it added a net 710,000 phone subscribers in the three months ended June 30, compared with 686,000 additions a year earlier.

Analysts were expecting 643,000 new subscribers, according to research firm FactSet.

Postpaid figures are closely watched as customers who opt for the plan pay a recurring monthly bill and are more valuable to carriers that prepaid users.

T-Mobile US is awaiting approval for its $26.5 billion deal to buy smaller rival Sprint Corp S.N as it strives for more scale to compete with bigger rivals such as Verizon Communications Inc VZ.N and AT&T Inc T.N.

The company’s net income rose to $939 million, or $1.09 per share, in the quarter, from $782 million, or 92 cents a share, a year earlier.

Analysts had expected the company to earn 97 cents per share, according to IBES data from Refinitiv.

Revenue rose nearly 4% to $10.98 billion, falling short of estimates of $11.13 billion.

Reporting by Vibhuti Sharma in Bengaluru; Editing by Sriraj Kalluvila and Anil D’Silva

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