T-Mobile Earnings Call Highlights Growth Goals in Spectrum and Fiber
The company said it was the best in industry for customer growth and is nationwide overall network leader in 5G networks.
WASHINGTON, July 27, 2023 – T-Mobile reported in its second quarter earnings call Thursday that it is working to improve millimeter wave spectrum and fiber use to improve its broadband network.
CEO Mike Sievert said that the company is “always on the hunt” to add capacity to their network through spectrum innovation and expansion. Spectrum is the frequency bands that carry wireless signals and power the country’s mobile and wi-fi networks. The company is working to meet the “growing needs” of its fixed wireless access customers.
According to Mike Katz, chief marketing officer, T-Mobile’s fixed wireless access network’s net promoter score, a consumer score that determines customer satisfaction, is highest in the broadband category across the United States.
The company reported that it is the best in the industry for customer growth and is the nationwide overall network leader with the largest 5G network. “We continue to extend our durable network and value leadership over the competition which fuels our growth opportunities,” said Sievert.
T-Mobile executives said that its cable additions are a result of the company’s launch of Phone Freedom, a phone option that provides customers with a phone plan other than the industry standard, three-year long device contracts.
This is a unique proposition that resonates with customers, said executives, saying that customers are frustrated with long-term contracts with companies that arbitrarily hike up prices.
According to Ookla speedtest results, T-Mobile won every category for overall network for the third quarter in a row with undefeated 5G performance. T-Mobile’s network earned the top ranking for fasted mobile network, lowest latency, most consistent, best mobile video, best 5G performance and best 5G consistency.
The company’s postpaid net account additions of 299,000 were the best in the industry, marking the best Q2 net adds in eight years for the company. It had postpaid service revenue growth of 5 percent up over Q2 in 2022 driven by the continued increase in net additions. Total service revenue increased from $15.3 billion in Q2 2022 to $15.7 billion in Q2 2023, representing a 3 percent growth year over year. Net income of $2.2 billion increased by $2.3 billion year over year.
