John Legere
T-Mobile CEO John Legere. (GeekWire File Photo)

tmobileT-Mobile says it added 2 million more customers in the third quarter — its 14th straight period with more than 1 million net customer additions — while growing revenue 18 percent to $9.2 billion, and posting a quarterly profit of $366 million, up 165 percent year-over-year.

The results come as the company’s larger competitors, AT&T and Verizon, pursue blockbuster acquisitions to diversify their businesses as their wireless growth slows. AT&T, which reported a decline of 0.7 percent in wireless revenues, this weekend announced plans to acquire Time Warner for $85 billion. Verizon, which is in the process of buying Yahoo, reported a 6.7 percent decrease in third-quarter revenue.

T-Mobile’s results follow its announcement in August that it’s shifting entirely to unlimited data plans in its latest bid to shake up the wireless industry.

The company says it expects to lead the industry in postpaid wireless growth in the third quarter, adding 851,000 postpaid phone customers. (These customers, who pay at the end of a billing period, typically have better credit than their prepaid peers and are considered more valuable.)

“We took share and grew our customer base while producing both financial growth and shareholder value,” said T-Mobile CEO John Legere in a news release. “Most importantly, we are delivering results for both customers and shareholders alike.”

The Bellevue, Wash.-based wireless company now has 69.4 million customers in the U.S., compared to more than 133 million for AT&T and more than 142 million for Verizon Wireless. Sprint added 740,000 new customers in the quarter, according to its preliminary results, inching closer to 60 million.

T-Mobile’s shares are up more than 4 percent in pre-market trading. The company will hold its earnings conference call at 7 a.m. Pacific time, viewable via the live stream below.

https://www.youtube.com/watch?v=wuLOR2hhOnI

 

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