Summary by Moomoo AI
T-Mobile US reported strong Q2 2024 financial results with total revenues increasing 3% year-over-year to $19.8 billion, driven by 7% growth in postpaid revenues to $12.9 billion. Net income surged 32% to $2.9 billion, while operating income rose 22% to $4.6 billion. Core Adjusted EBITDA grew 9% to $8.0 billion with a margin of 49%.The company demonstrated robust customer growth, adding 1.5 million net customers in Q2, including 777,000 postpaid phone customers and 179,000 prepaid customers. T-Mobile completed the acquisition of Ka'ena Corporation (Mint Mobile) for $956 million upfront plus potential earnout payments. High-Speed Internet customers reached nearly 5 million, with 358,000 net additions in the quarter.Looking ahead, T-Mobile announced plans to acquire UScellular's wireless operations for $4.4 billion and entered joint ventures with Lumos and Metronet to expand fiber services. The company continued its stockholder return program, repurchasing $2.3 billion in shares and paying $759 million in dividends during Q2. Capital expenditures decreased as the nationwide 5G network deployment neared completion.
