(Reuters) – T-Mobile US Inc first-quarter revenue and profit jumped from a year earlier, beating Wall Street’s estimates, as competitive pricing lured new subscribers to its monthly cellphone plans.
FILE PHOTO: A T-Mobile logo is seen on the storefront door of a store in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton
Shares of the Bellevue, Washington-based company rose marginally after hours to $73.00.
The company said it added a net 656,000 phone subscribers in the first quarter, up from 617,000 additions a year earlier and substantially more than the 612,000 new subscribers analysts had expected, according to research firm FactSet.
That was due to T-Mobile’s lower prices compared to its competitors, as well as an expansion into more rural areas of the United States,