Wireless carrier T-Mobile revealed its second quarter fiscal report, and the news was predominately good.
For starters, the company added 1.5 million subscribers in the quarter, which in total gives them more customers than any other carrier.
A $391 million profit off revenue of $7.2 billion paints a very healthy picture, too.
"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 added this quarter and five 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."
Other report highlights include an industry-leading revenue growth of 8 percent year-over-year on a pro-forma combined basis; an adjusted EBITDA of $1.45 billion, again leading the industry with 33.4 percent growth quarter-over-quarter; a fifth consecutive quarter with over 1 million net customer additions; and an industry-leading branded postpaid phone net adds of 579,000 and branded prepaid net adds of 102,000.
Even the bad news was good; the company reported a record low branded postpaid churn (churn is the annual rate of lost subscribers) of 1.5 percent, flat year-over-year.
Much of the growth in T-Mobile's customer base came with the addition of 329,000 tablet subscribers to branded postpaid plans. The company sold 6.2 million smartphones in quarter two, equivalent to 93 percent of all phone units (including standard phones) sold.
The company is continuing its network expansion. Its 4G LTE network now covers over 233 million people in 325 metro areas, while the deployment of Wideband LTE continues along with its 700 MHz A-Block spectrum rollout.
T-Mobile claims to be the first carrier to launch voice over LTE (VoLTE) service and the first to make that coverage nationwide, now available to over 200 million people.
Legere addressed the potential for VoLTE growth in a blog post. He writes, "Right now, customers with the LG G Flex, Samsung Galaxy S5, Galaxy Light and Note 3 can enjoy T-Mobile VoLTE. With more than 2.8 million VoLTE-capable devices already on the T-Mobile network, our customers have made more than 52 million crystal-clear VoLTE calls to date."
With the announcement that T-Mobile has just been awarded the top spot in a new J.D. Power Customer Satisfaction Study, Legere summarized how far the company has come in just a year when he wrote, "Just 12 months ago, T-Mobile was ranked fourth among the four major national providers (in customer service). Today we're back on top."
