T-Mobile US Inc said on Wednesday it added more monthly bill paying phone subscribers than expected in the first quarter, thanks to a surge in demand for cheaper phone services as people work from home amid coronavirus lockdowns.
T-Mobile added 452,000 net new monthly paying phone subscribers in the first quarter, above analysts’ estimates of 426,000, according to research firm FactSet.
“I expect that AT&T and Verizon customers will most certainly be looking to get out from under their high monthly bills in search of a better value,” Sievert said during an earnings call. The company said it was expanding its 5G rollout as demand continues to rise during the lockdowns and that it built over 1,000 network sites in April. T-Mobile Chief Technology Officer Neville Ray said the network is “growing like a weed.”
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