News by Luke Jones on Tuesday October 28, 2014.
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T-Mobile released its third quarter financial results last night and once again the company saw huge growth in a number of department. However, even though the Magenta Network continues to outgrow its rivals Verizon, AT&T, and Sprint, it still struggles to grow profit.That said, the quarter has been nothing but stellar for the Uncarrier, with a total of 2.3 million new customers added through the three month period. It was the best growth quarter in terms of customers the company has ever recorded and of those new additions, 411,000 prepaid adds and 1.38 million postpaid customers. Over the last ten quarters T-Mobile has enjoyed huge growth and as added 10 million new customers in that time. Smartphones are of course where it's at these days, and 93 percent of all device sold by the company were smartphones, 6.9 million through the third quarter. CEO John Legere has said the iPhone 6 was a big part of that, responsible for the biggest launch the company has ever seen, something that has been echoed by AT&T and Verizon. Legere has said demand for Apple's new devices has been "mind blowing". T-Mobile set a target at the start of the year to expand to 250 million LTE markets and the company achieved that goal months early, announcing it through Q3. The company now says it wants to reach 280 million Americans by mid-2015 and 300 million by the end of next year.
"Ahead of schedule" has become a recurring theme here. As of today, 250 million Americans can experience America's fastest nationwide 4G LTE network. No other network team in the nation can light up new network advancements so fast. We saw it with the initial roll out of our LTE network - we hit nationwide coverage months ahead of schedule. We saw it with the nationwide availability of Voice over LTE (VoLTE) just three months after initially launching in Seattle.Revenue grew by 9.9% through the period, while profit was $1.3 billion, flat year on year.
Luke Jones is the Managing Editor at MobileBurn.com and is the person you need to speak to about the content on the site. Luke studied creative writing at degree level before carving out a reputation as a freelance tech writer. He settled here at MobileBurn, where he reviews devices and contributes to the news, as well as overseeing the site's content and direction.