Technology
T-Mobile Reports Strong 3Q Earnings, Stokes Rumors on Sprint Merger
CEO John Legere didn't take the typical questions after the Bellevue company's new earnings report, but did talk about T-Mobile's big third quarter in a new video.
By Dan Shafer October 23, 2017
T-Mobile posted strong numbers in new earnings report, but company executives skipped the usual post-report call, stoking rumors that the company is headed toward a deal with Sprint.
Bellevue-based T-Mobile reported its third quarters earnings today, highlighted by 1.3 million total net additions, service revenues increasing 7 percent to $7.6 billion, and a 50 percent year-over-year increase in net income. The company also raised guidance for 2017.
In the earnings press release, John Legere, president and CEO, celebrated the results, saying, “Just step back and look at these financial results theyre incredible!
However, instead of jumping on the on the usual post-report investors call, Legere released a video discussing the results.
There, he addressed the rumors, saying Its that time again. One of my favorite times of every quarter, when we get to report our financial and operational results. However, with all the rumors and speculation out there, we decided that we wanted to make sure you all saw and focused on our Q3 results, and not just on the rumors and speculation that seem to fill the news every day.
CNBC is reporting that negotiations between Kansas-based Sprint and T-Mobile have been ongoing, and that an announcement could come in early to mid-November.
Sprint, too, will skip its usual post-earnings investor call when its results are reported this coming Wednesday, Oct. 25.
See more about what T-Mobile has to say about its big quarter here.