T-Mobile announced that it recently added 5.7 million net subscribers in 2017. The company also published their initial fourth quarter results, and are buying back shares. The company stated that 891,000 postpaid net additions were made in the fourth quarter, with an overall mix of 1.18%.
T-Mobile also acquired 2.8 million branded postpaid phone additions. In the last five years, T-Mobile has added more than 39 million customers.
“The most passionate, customer-obsessed team in the wireless industry just delivered its 19th quarter in a row with more than a million nets! It’s incredible,” said John Legere, the company’s President and CEO. “It just proves that putting customers first quarter after quarter and delivering on our promise of the fastest 4G LTE network in the country is a winning combination for everyone! In 2017, more than 5 million customers came to the Un-carrier for more choice and a better wireless experience. These results speak for themselves and we are ready to continue the fight for consumers in 2018!”
With regard to the stock repurchase plan, T-Mobile mentioned that it bought seven million shares at an average price of $63.34. These shares are approximately 30% of the $1.5 billion T-Mobile owed for share repurchases.
Shares of T-Mobile were raised 1.6% in light premarket trading. T-Mobile is the third U.S. wireless carrier. It sees its strength in branded postpaid customers with net customer additions of 1.1 million in the fourth quarter of 2017.