Trash Talking T-Mobile Surpasses 50 Million Customers, Reports Profit of $391 Million In Q2
"We have completely reversed T-Mobile’s trajectory and started a revolution that is changing the rules in wireless," said John Legere, President and CEO of T-Mobile. "Now -- with more than 50 million customers, 1.5 million customers added this quarter and 5 quarters in a row of over 1 million net new customers -- we are proud to be the fastest growing wireless company in America, with the fastest 4G LTE network and, just this morning, recognized for having the best Customer Service nationwide."
T-Mobile's so-called "un-carrier" efforts are paying off. The nation's fourth largest wireless carrier grew its total revenues in the second quarter of 2014 by 15.4 percent year-over-year. This resulted in a healthy $391 profit with earnings of $0.48 per share, up from a loss of $0.19 per share in the first quarter of 2014.
The wireless carrier benefited from a $731 million payment Verizon made to T-Mobile for licensing deals to acquire spectrum. Total operating expenses came to $6.2 billion, down 10 percent from $6.9 billing in the previous quarter. All in all, it was a strong quarter for T-Mobile, which is translating over to the stock market where shares of the company are up by nearly 6.5 percent.