The third largest wireless provider in the United States, T-Mobile, has posted stellar number in the fourth quarter of 2015 according to Bloomberg.
T-Mobile’s accomplishments in 2015 were quite remarkable in a market that is overfull with wireless provider companies. Its fourth quarter earnings, released Wednesday, Feb 17, beat initial projections.
In the fourth quarter, net income was $297 million, compared to $101 million in the same quarter last year.
Fourth quarter revenue rose to 8.25 billion, beating the projections of 8.2 billion. The fourth quarter was the icing on top of the cake for a fantastic 2015, reported The Wall Street Journal.
Net income was $733 million, and revenue was up 8.4 percent from 2014, according to The Wall Street Journal.
Investors are impressed with a fourth quarter earnings per share of $0.34 almost double the $0.18 predicted by Wall Street. EPS for the year was $0.82.
Bloomberg reported that T-Mobile added 2.1 million new customers in the fourth quarter, giving the wireless carrier 63 million total added to its customer base in 2015.
In comparison, Verizon added a million customers in its fourth quarter, making T-Mobiles numbers even more impressive.
T-Mobile can attribute much of its success in attracting new customers to its new services and marketing.
Data rollover plans, which allow customers to roll over their data from one month to the next, are a huge attraction for consumers.
Another promotion is “Binge On,” which allows users to watch videos from certain providers that does not count against their monthly data.
T-Mobile CEO John Legere is very excited about the Binge On service. He told The New York Times that he told his investors, “I maintain that Binge On will be one of the biggest things we’ve ever done as a company.”
Free music streaming, with the Music Freedom service, has also helped to expand T-Mobile’s customer base.
T-Mobiles Equipment Installment Plan allows customers to pay for phones with a small monthly fee, making expensive phones seem more affordable.
“Jump,” another T-Mobile initiative, allows users to upgrade to the latest smartphone model up to three times a year.
T-Mobile prides itself on listening to what consumers want and they have attempted to address many issues with these new promotions. Consumers have responded well.
J.D. Power recognized T-Mobile for its customer care with the highest rating among full service providers, according to The New York Times.
T-Mobile plans to continue to their promotions that help to separate them from the competition.
T-Mobile expects to add between 2.4 and 3.4 million new customers in the upcoming year, and if this momentum continues that addition is within reach.
Editor’s Note: Information from The New York Times, Bloomberg and The Wall Street Journal was used in this report.