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T-Mobile US Inc. (NASDAQ: TMUS) delivered a strong first-quarter performance, surpassing analyst expectations thanks to robust postpaid subscriber growth and rising service revenues. The wireless carrier reported adjusted earnings per share of $2.27, beating the consensus estimate of $2.05. Total revenue reached $23.11 billion, slightly above forecasts of $22.97 billion and representing an 11% year-over-year increase.
A key driver of this growth was T-Mobile’s postpaid segment. The company added 217,000 postpaid net accounts during the quarter, outperforming the Visible Alpha estimate of 193,000 additions and marking a 6% annual increase. Service revenue climbed 11% year-over-year to $18.8 billion, while postpaid service revenue surged 15% to $15.6 billion. Postpaid average revenue per account (ARPA) also improved, rising 3.9% to $151.93, highlighting stronger customer engagement and monetization.
Despite these gains, net income fell 15% year-over-year to $2.5 billion, largely due to costs associated with the UScellular merger. These included accelerated depreciation expenses totaling $476 million after tax. However, profitability metrics remained solid, with core adjusted EBITDA increasing 12% to $9.2 billion. Adjusted free cash flow also grew 5% to $4.6 billion, reflecting healthy operational performance.
CEO Srini Gopalan emphasized the company’s ability to attract new customers while deepening relationships with existing users, which continues to fuel growth in both accounts and revenue.
Looking ahead, T-Mobile raised its full-year 2026 guidance. The company now expects postpaid net account additions between 950,000 and 1.05 million, an increase from its previous forecast. Core adjusted EBITDA is projected in the range of $37.1 billion to $37.5 billion, while adjusted free cash flow is expected to reach between $18.1 billion and $18.7 billion.
Following the earnings release, TMUS stock saw a modest uptick in after-hours trading, reflecting investor confidence in the company’s growth trajectory and improved outlook.
