T-Mobile US on Tuesday reported earnings and raised its 2016 forecast for customer additions, as its latest plans and free video streaming options helped it add over 1 million new monthly subscribers for the seventh consecutive quarter. T-Mobile has rolled out data-only plans, new family price offers and free music and video streaming services in recent months.
Such offerings have helped it lure subscribers away from its rivals such as larger rivals Verizon Communications and AT&T Inc and smaller competitor Sprint.
T-Mobile said it added 2.2 million customers on a net basis in the first quarter ended March 31.
The company said it now expects to add 3.2 million to 3.6 million postpaid customers on a net basis in 2016, compared with its previous forecast of 2.4 million to 3.4 million.
T-Mobile said revenue jumped 10.6 percent revenue to $8.6 billion.
T-Mobile reported net income of $479 million, or 56 cents per share, for the first quarter, compared with a loss of $63 million, or 9 cents per share, a year earlier.