T-Mobile beats quarterly phone subscriber estimates

(Reuters) - T-Mobile US Inc on Monday beat Wall Street’s third-quarter estimates for net new phone subscribers who pay a monthly bill, boosted by its competitive wireless plans aimed at fending off its bigger rivals.

T-Mobile, the third-largest U.S. wireless carrier by subscriber count, said it added a net 754,000 phone subscribers in the three months ended Sept. 30, compared with 774,000 additions a year earlier.

Analysts had expected 742,600 new subscribers, according to research firm FactSet.

The company’s net income rose to $870 million (£676.52 million), or $1.01 per share, from $795 million, or 93 cents per share, a year earlier. Analysts had expected earnings of $1.01 per share, according to IBES data from Refinitiv.

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Revenue rose 2% to $11.06 billion, missing estimates of $11.33 billion.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Maju Samuel)

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