T-Mobile US beats by $0.46, beats on revs; raises customer FY16 outlook and Adjusted EBITDA target
- Reports Q1 (Mar) earnings of $0.56 per share, $0.46 better than the Capital IQ Consensus of $0.10; revenues rose 10.3% year/year to $8.6 bln vs the $8.46 bln Capital IQ Consensus.
- 2.2 million total net adds -- 12th consecutive quarter of over 1 million, over 2 million for 6th time in past 7 quarters
- More than 1.0 million branded postpaid net adds -- 7th consecutive quarter of over 1 million
- Branded postpaid phone churn of 1.33% -- down 13 bps QoQ
Outlook/Guidance - Raising customer outlook and Adjusted EBITDA target for 2016
- Guidance range for branded postpaid net adds increased to 3.2-3.6 million from 2.4 to 3.4 million
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Increasing Adjusted EBITDA target to $9.7-10.2 billion from $9.1-9.7 billion
- Guidance includes aggregate impact of leasing and Data Stash of $0.7-1.0 billion, and the $0.6 billion spectrum gain in the first quarter of 2016
- CAPEX - Maintaining guidance of $4.5 to $4.8 billion of cash capital expenditures