Verizon Communications Inc (NYSE: NYSE:VZ) traded higher on Friday in sympathy with T-Mobile stock gains after Q3 performance.
T-Mobile US (NASDAQ:TMUS), Inc (NASDAQ: TMUS) reported a third-quarter FY22 revenue decline of 0.7% year-on-year to $19.48 billion, missing the consensus of $20.02 billion. EPS of $0.40 missed the consensus of $0.68.
T-Mobile added 394 thousand postpaid net accounts and 1.6 million postpaid net customer additions, more than AT&T (NYSE: T) and Verizon Communications Inc (NYSE: VZ) combined and the highest in company history.
T-Mobile added 854 thousand postpaid phone net customer additions. It added 578 thousand of high-speed internet net customers.
T-Mobile generated $2.1 billion in free cash flow. T-Mobile raised the Sprint merger synergies guidance range from $5.4 billion - $5.6 billion to $5.7 billion - $5.8 billion.
T-Mobile raised the Postpaid net customer additions outlook from 6.0 million - 6.3 million to 6.2 million - 6.4 million.
T-Mobile raised the free cash flow outlook from $7.3 billion - $7.6 billion to $7.4 billion - $7.6 billion.
Price Actions: TMUS shares traded higher by 6.88% at $150.31 on the last check Friday. VZ shares traded higher by 3.95% at $37.63.
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