More and more people are making the switch to T-Mobile.
The Un-carrier reported during its third-quarter earnings call on Monday that it has added 851,000 new post-paid customers, customers who pay at the end of the month, along with 684,000 new prepaid customers to make for a total of 2 million new net customers added for this quarter.
This means there are now 69.4 million T-Mobile customers and counting.
This puts T-Mobile on track to add even more customers that was previously predicted for the year from anywhere from 3.4 million to 3.8 million to now 3.7 million to 3.9 million.
As a result, the company reported strong quarterly profits as shared were up 6.3 percent to $49.67 in early trading on Monday.
The amount of profit made also exceeded industry analysts' predictions, as T-Mobile reported a $366 million profit for the quarter ending in September. This is up from $138 million last year.
Revenue also grew 18 percent, to $9.2 billion, which was just about what analysts predicted.
Want to know how @TMobile did in Q3? Just watch this! pic.twitter.com/RVxaaWxxqT
— John Legere (@JohnLegere) October 24, 2016
The rise in customers and profits could largely be credited to the release of Apple's iPhone 7 and 7 Plus, the company said. T-Mobile was one of the firsts to let its customers trade in their older iPhone models for the newer 7 device for free.
Other changes have helped T-Mobile convert customers from Verizon and AT&T like its cheaper unlimited plans, its Binge One promotions with unlimited streaming, and T-Mobile Tuesdays free promotions.
This big news comes after T-Mobile was first forced to reschedule its quarterly conference call because of AT&T's announcement to acquire Time Warner.
AT&T has agreed to pay $85.4 billion in the acquisition, a deal that would give a major boost to the already large company. Then again, not if Republican candidate Donald Trump has it his way.
However, no matter how big this company's news was, AT&T in comparison has lost 289,000 customers in the third quarter.
Verizon also lost customers, 36,000 to be exact, with only T-Mobile and Sprint gaining a healthy amount of new paying users.
But it hasn't been all good news for the Un-carrier. T-Mobile just reached at $48 million settlement after the FCC found that it failed to inform customers that its unlimited data in fact was a bit limited.
Source: Bloomberg
Photo: Mike Mozart | Flickr
