T-Mobile rallies after Q4 profit beat

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Shares of T-Mobile US Inc. TMUS, +0.03% rallied more than 7% late Wednesday after the telecommunications company reported fourth-quarter per-share profit well above expectations and sales that fell slightly short. T-Mobile said it earned $422 million, or 34 cents a share, in the quarter, compared with $750 million, or 60 cents a share, in the year-ago quarter. The company pinned the earnings drop mostly on an expected increase in costs related to its merger with Sprint. Revenue rose to $20.8 billion, from $20.3 billion a year ago. Analysts polled by FactSet expected T-Mobile to report earnings of 15 cents a share on sales of $21 billion. “We didn’t just meet the bold goals we set for 2021 … we crushed all of them,” Chief Executive Mike Sievert said in a statement. “With plenty of room to run, we’re in the best-ever position to continue delivering.” The company guided for net customer additions of postpaid customers between 5 million and 5.5 million for 2022. T-Mobile stock ended the regular trading day up 0.1%.

This article was originally published by Marketwatch.com. Read the original article here.

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