T-Mobile USA Posts Loss in its Q1 Financials
Published on: 1st May 2014
By: Ian Mansfield
T Mobile USA has reported its first quarter results and recorded net customer additions of 2.4 million marking its first quarter ever with more than 2 million net additions.
T-Mobile ended the first quarter of 2014 with approximately 49.1 million customers, a significant improvement on the 33.97 million a year ago, although that increase includes the MetroPCS acquisition of 8.92 million customers.
Total revenues for the first quarter of 2014 increased by 47% year-over-year, principally due to the inclusion of MetroPCS results in the first quarter of 2014. On a pro forma combined basis, total revenues for the first quarter of 2014 increased 15.3% year-over-year due to higher equipment sales and growth in service revenues.
Revenues came in at USD6.88 billion.
However, adjusted EBIDTA fell sharply to US$1.09 billion from USD1.47 billion a year ago. The company blamed higher sales of smartphones and costs for the decline.
The company's net loss deepened to USD154 million, compare to a profit of USD106 million a year earlier.