T-Mobile rises on strong Q3 wireless subscriber additions
Updates
** Shares of wireless carrier T-Mobile TMUS.O rise 3.5% to $228.68
** Co on Wednesday reported adding 865,000 postpaid phone customers in Q3, its highest for the period in a decade, surpassing FactSet estimates of 727,500 additions
** TMUS now expects 2024 postpaid net customer additions to be between 5.6 mln and 5.8 mln vs prior view of 5.4 mln-5.7 mln
** "The company has continued its momentum in gaining share across different markets and consumer cohorts," RBC Capital Markets analysts says
** UScellular customers will be offered lower prices as they migrate to T-Mobile plans, TMUS said in post-earnings call
** Co continues to take outsized subscriber share in both mobile and broadband through its superior network and competitive pricing, Oppenheimer analysts said
** Adds TMUS "is our top pick in the communications sector"
** TMUS' Q3 revenue of $20.16 bln beat estimates of $20.01 bln
** Up to last close, stock up 37.8% YTD
Reporting by Harshita Mary Varghese in Bengaluru
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