T-Mobile’s Q1 earnings, revenue dip; 500,000 iPhones sold in under a month

T-Mobile Earnings Q1 2013

T-Mobile US on Wednesday posted first-quarter financial results for the pre-merger T-Mobile USA, which saw earnings and revenue continue to slide. Adjusted EBITDA of $1.2 billion was down more than 7% from the first quarter last year, and revenue sank 7% to $4.7 billion. The carrier finished the March quarter with approximately 34 million subscribers, an increase of about 579,000 customers. T-Mobile added 3,000 net branded subscribers but it lost 199,000 net postpaid customers in the quarter.

“Our first quarter operating metrics and financial results are showing positive impact from the changes we began making in the fourth quarter. Branded customer net additions turned positive for the first time since the first quarter of 2009 and our postpaid business has demonstrated significant improvement,” said T-Mobile CEO John Legere. “We ended the quarter with strong operational momentum, which is continuing into the second quarter, driven by the successful launch of our Un-carrier ‘Simple Choice’ service plan and the introduction of the iPhone into our device line-up. Things only get more exciting from here, having brought T-Mobile USA and MetroPCS together to create the wireless industry’s value leader and premier challenger.”

T-Mobile US also noted in its report that it has sold more than 500,000 iPhone handsets since it began carrying Apple’s smartphone lineup on April 12th.

Source:
T-Mobile
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