T-Mobile's Fixed Wireless Internet Continues to Add Customers

WASHINGTON, July 31, 2024 – T-Mobile’s quarterly earnings report today showed that the mobile industry remained competitive with cable companies and other landline providers in the high-speed internet access market.

In its 2024 second quarter earnings report, T-Mobile revealed an increase of 406,000 net high speed internet customers over its fixed wireless access service, bringing the total to 5.6 million. 

Although this was a decrease from last year's second quarter, which saw an increase in 509,000 customers, T-Mobile said it received the highest ever share of industry net additions.

“Our customers love this product,” said CEO Mike Sievert. "The majority of that 5.6 million is from existing T-Mobile customers so that means they also have mobile."

In the first quarter of 2024, T-Mobile added 405,000 FWA subs.

In announcing the earnings, T-Mobile hosted a livestream panel featuring Sievert and other senior leaders to discuss the strategies that company has been pursuing.

Sievert highlighted the recent mergers with the fiber ISPs Metronet and Lumos, describing them as “the beginning of a critical mass in this space.”

Sievert described Metronet as the nation's fastest-growing, pureplay fiber provider and a “unique” asset for T-Mobile. Sievert reported that Metronet is expected to expand its coverage from over 2 million households to more than 6.5 million by 2030. 

In April, T-Mobile also announced a merger with fiber provider Lumos. T-Mobile has already detailed plans to grow Lumos's network infrastructure, which currently serves 320,000 households. Sievert stated that he expects the network to grow to support 3.5 million households by 2028.

“I can’t highlight enough how both the Metronet and Lumos joint ventures represent best-in-class partnerships in the fiber space.” Sievert said. “Because of the partners that we’ve chosen… I believe this is going to be a very successful initiative for our shareholders.”

During a question-and-answer segment, Sievert was asked about T-Mobile’s broader fiber strategy and if there would be any further large fiber deals. Sievert said T-Mobile was not currently working on any other similar transactions.

“We have some further appetite, but not much. For me, this is big. These two transactions… are going to allow us to reach millions of homes,” Sievert said.