ANDY RAIN
Deutsche Telekom has grown significantly in business with T-Mobile in the USA. (Archive image)
T-Mobile announced this on Thursday (local time) after the US market closed. Revenue increased 74 percent to $ 19.3 billion. Despite the coronavirus crisis, around 689,000 new telephone contracts under its own brand were added after deducting terminations.
After the strong quarter, T-Mobile raised its annual targets and also announced that the merger with Sprint, which was completed on April 1 after a two-year antitrust battle, would lead to cost reductions faster than originally expected. Overall, the quarterly figures significantly exceeded market expectations. The shares rose after the trading hours by around five percent. The price has already risen by almost 50 percent since the beginning of the year.
In the previous quarter, T-Mobile US had already outstripped competitor AT&N in terms of the size of the customer base. Company boss Mike Sievert wants to continue attacking and hunt down industry leader Verizon and promised: “We’re just getting started.” T-Mobile US is currently benefiting in particular from the fact that more people are using telecommunications services in the coronavirus crisis to stay in contact with one another and to work from home.
The T-Mobile US parent company Deutsche Telekom wants to give an insight into the results of the past fiscal quarter on November 12th.
Published: November 6th, 2020, 2 minutes ago
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