While AT&T and Verizon Wireless continue to duke it out, T-Mobile quietly had a successful Q2, and certainly much more successful than that of Sprint.
It would appear that the carrier’s big moves over the course of the quarter — its shedding of contracts with the launch of its Simple Choice Plans and the start of its Jump upgrade program — had a positive influence on T-Mobile’s numbers, as it acquired 1.1 million new customers in Q2. It also managed to minimize the amount of turnover of customers on contract, keeping it to an all-time low of 1.58 percent.
Equally helpful were T-Mobile’s hardware sales with a total of 4.3 million smartphones sold. That marked an increase of 71 percent over the last quarter, with the numbers heavily bolstered by sales of the Apple iPhone (which accounted for 29 percent of sales despite its recent price hike).
All said, the carrier pulled in a total of $6.3 billion in revenue, a 20 percent increase over last year’s $4.4 billion. Unfortunately, it’s not all roses for T-Mobile: it still suffered a year-over-year decrease in net income from $207 million to a $16 million loss. Regardless, the carrier appears to be moving in the right direction and may well be on the road to recovery if its bold moves continue to pay off.