On an earnings call, CEO Mike Sievert (pictured) said the rate was its lowest churn for a third quarter, one which came after a record-low figure in Q2.
T-Mobile consumer president Jon Freier noted consumer phone upgrades in Q3 were lower year-on-year, but said it is not a concern given the churn rates.
Freier said 70 per cent of T-Mobile’s customer base already have 5G-enabled phones and were therefore less motivated to upgrade and Sievert gave some spin by asserting advanced next-generation phone features on its network may mean customers don’t feel the need to swap devices as often.
Sievert noted T-Mobile still has C-Band spectrum to deploy, along with 3.45GHz, 2.5GHz and AWS.
T-Mobile announced its mid-band network now covers 300 million people across the US.
“Our target is to be at 200MHz around the end of this year deployed against the 300 million people, and then [we have] more room to run” in 2024, Sievert stated.
It added 557,000 fixed wireless subscribers, flat on 2022,
Prepaid net additions were down 26,000 to 79,000 and churn rose from 2.62 per cent to 2.81 per cent.
Net income of $2.1 billion increased $1.6 billion on revenue of $19.2 billion, down 1.2 per cent.
Service revenue rose 3.6 per cent to of $15.9 billion and post-paid 6.4 per cent to $12.2 billion.