Summary
T-Mobile US, Inc. (TMUS) reported solid financial results for the second quarter and first half of 2024, demonstrating continued growth in its core business. Total revenues increased by 3% for the quarter and 1% year-to-date, driven by strong performance in postpaid services, which saw a 7% increase in both periods, reflecting higher average postpaid accounts and ARPA. The acquisition of Ka’ena Corporation (Mint Mobile and Ultra Mobile) on May 1, 2024, contributed to a 6% rise in prepaid revenues for the quarter and a 3% increase year-to-date. Net income saw a substantial increase of 32% year-over-year for the quarter and 27% for the first half, reaching $2.9 billion and $5.3 billion, respectively. This growth was supported by improved operating income, which rose 22% and 20% in the respective periods, driven by better cost management and merger synergies. The company also continues to execute its capital allocation strategy, returning value to shareholders through dividends and share repurchases, while investing in network expansion and strategic acquisitions. Notably, T-Mobile announced a significant agreement to acquire UScellular's wireless operations for approximately $4.4 billion, expected to close in mid-2025, signaling further expansion and potential for synergy realization.
Financial Highlights
52 data points| Revenue | $19.77B |
| SG&A Expenses | $5.14B |
| Operating Expenses | $15.14B |
| Operating Income | $4.63B |
| Net Income | $2.92B |
| EPS (Basic) | $2.50 |
| EPS (Diluted) | $2.49 |
| Shares Outstanding (Basic) | 1.17B |
| Shares Outstanding (Diluted) | 1.17B |
Key Highlights
- 1Total revenues increased by 3% year-over-year to $19.77 billion for Q2 2024, and by 1% to $39.37 billion for the first six months.
- 2Postpaid revenues grew by 7% year-over-year for both Q2 and the first six months, reaching $12.90 billion and $25.53 billion, respectively.
- 3Net income increased significantly by 32% year-over-year to $2.93 billion for Q2 2024, and by 27% to $5.30 billion for the first six months.
- 4Operating income improved by 22% year-over-year to $4.63 billion for Q2 2024 and by 20% to $8.63 billion for the first six months.
- 5The company completed the acquisition of Ka’ena Corporation (Mint Mobile and Ultra Mobile) on May 1, 2024, contributing to prepaid revenue growth.
- 6T-Mobile announced an agreement to acquire substantially all of UScellular's wireless operations for approximately $4.4 billion, expected to close mid-2025.
- 7Adjusted Free Cash Flow increased by 54% year-over-year to $4.44 billion for Q2 2024 and by 48% to $7.79 billion for the first six months.