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T-Mobile's Q2 Earnings Beat Estimates on Solid Revenues, Guidance Up

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Key Takeaways

  • T-Mobile's Q2 net income rose 10.2% to $3.22B with both earnings and revenues beating estimates.
  • Q2 service revenues hit $17.43B, driven by 1.7M postpaid net customer additions and low churn.
  • TMUS raised 2025 guidance, now expecting up to 6.4M postpaid adds and $18B in free cash flow.

T-Mobile, US, Inc. (TMUS - Free Report) reported impressive second-quarter 2025 results, with both top and bottom lines beating the respective Zacks Consensus Estimate. This Bellevue, WA-based wireless service provider reported a top-line expansion backed by industry-leading postpaid customer growth. T-Mobile follows a multi-layer approach to 5G, with dedicated standalone 5G deployed nationwide across 600 MHz, 1.9 GHz and 2.5 GHz bands.

TMUS’ Net Income

Net income in the second quarter was $3.22 billion or $2.84 per share, up from $2.92 billion or $2.49 in the year-ago quarter. The 10.2% year-over-year growth was primarily driven by the top-line expansion. The bottom line exceeded the Zacks Consensus Estimate of $2.69.

T-Mobile US, Inc. Price, Consensus and EPS Surprise

T-Mobile US, Inc. Price, Consensus and EPS Surprise

T-Mobile US, Inc. price-consensus-eps-surprise-chart | T-Mobile US, Inc. Quote

TMUS’ Revenues

Net sales were $21.13 billion, up from $19.77 billion in the year-ago quarter, driven by solid growth in service revenues. The top line beat the consensus estimate of $20.97 billion.

TMUS’ Segment Results in Q2

Total Service revenues were $17.43 billion, up from $16.42 billion in the year-ago quarter. The segment’s net sales beat our revenue estimate of $17.08 billion. The 6.1% year-over-year growth was primarily driven by solid demand for postpaid services. Net sales from Postpaid Services contributed $14.07 billion in revenues, up 9.1% year over year.

During the quarter, T-Mobile added 1.7 million postpaid net customers and 318,000 postpaid net accounts. Postpaid phone net customer additions were 830,000. The postpaid phone churn rate was 0.9%. 5G broadband net customer additions were 454,000. Postpaid average revenues per account rose to $149.87 from $142.54 in the year-ago quarter.

Net sales from Prepaid services were $2.64 billion, up from $2.59 billion in the year-earlier quarter. Prepaid net customer addition was 39,000, with a churn rate of 2.65%. Wholesale and other service revenues decreased to $717 million from $938 million in the year-earlier quarter. Prepaid average revenues per user declined to $34.63 from $35.94 in the year-ago quarter.

Equipment revenues were $3.43 billion, up from $3.1 billion in the year-ago quarter. Moreover, the segment’s revenues surpassed our estimate of $3.36 billion. This improvement was primarily attributed to a higher average revenue per device sold, owing to an increase in the high-end phone mix.

Other revenues were $255 million, up from the prior-year quarter’s of $237 million.

Other Details for TMUS

Total operating expenses increased to $15.91 billion from $15.14 billion in the year-ago quarter. Operating income rose to $5.2 billion from $4.6 billion. T-Mobile recorded core adjusted EBITDA of $8.54 billion compared with $8.02 billion a year ago, backed by solid growth in service revenues.

TMUS’ Cash Flow & Liquidity

In the March quarter, T-Mobile generated $6.99 billion of cash from operating activities compared with $5.52 billion in the prior-year quarter. Adjusted free cash flow was $4.6 billion, up from $4.4 billion in the year-earlier quarter.

As of June 30, 2025, the company had $10.25 billion in cash and cash equivalents, with $75.01 billion of long-term debt. During the quarter, it repurchased 10.1 million shares for $2.5 billion.

TMUS’ Outlook

Backed by solid customer addition, the company has upgraded its guidance for 2025. It now expects postpaid net customer additions to be between 6.1 million and 6.4 million, up from 5.5-6 million estimated earlier. Core adjusted EBITDA is estimated to be $33.3-$33.7 billion. It anticipates cash from operating activities in the range of $27.1-$27.5 billion. TMUS expects adjusted free cash flow in the band of $17.6-$18 billion. Capital expenditure is anticipated to be around $9.5 billion.

TMUS’ Zacks Rank & Stocks to Consider

T-Mobile currently carries a Zacks Rank #3 (Hold).

Here are some better-ranked stocks that investors may consider.

Ubiquiti Inc. (UI - Free Report) has a Zacks Rank of 1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

In the last reported quarter, it delivered an earnings surprise of 61.29%. Ubiquiti spends significantly on research and development activities for developing innovative products and state-of-the-art technology to expand its addressable market and remain at the cutting edge of networking technology. The company believes its new product pipeline will help to increase average selling prices for high-performance, best-value products, thus raising the top line. Ubiquiti is witnessing healthy traction in the Enterprise Technology segment.

Jabil, Inc. (JBL - Free Report) currently sports a Zacks Rank #1. In the last reported quarter, it delivered an earnings surprise of 9.44%.

Jabil’s focus on end-market and product diversification is a key catalyst. The company’s target of “no product or product family should be greater than 5% operating income or cash flows in any fiscal year” is commendable. This initiative should position Jabil well on the growth trajectory. 

HubSpot Inc. (HUBS - Free Report) sports a Zacks Rank #1 at present. In the last reported quarter, it delivered an earnings surprise of 2.3%. 

HubSpot delivered an earnings surprise of 10.65%, on average, in the trailing four quarters. It is benefiting from growing user engagement across all segments. Pricing optimization and the transition to a seat pricing model are expected to drive customer growth. HubSpot is benefiting from growing user engagement across all segments. Pricing optimization and the transition to a seat pricing model are expected to drive customer growth.


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