On Wednesday, T-Mobile came up with the financial reports for the first quarter. Compared to the previous year, T- mobile has reported a 7 per cent slide in its revenue, for the quarter ended ending on March 31st. The adjusted earnings were also marked at 7.5 per cent down from a year earlier. Adjusted earning is calculated excluding tax, interests, depression and remunerations which were calculated at $1.2 billion for the quarter. The report also included that the company had sold 500,000 units of iPhone starting from April 12, when it first took up the project.
Since the end of the quarter, the company was busy with implementing new plans and strategies. There were a few significant moves that could have a major contribution towards the future of the company. It added the iPhone line of handsets into its business in mid-April; it closed the phone subsidy sectors and acquired the MetroPCS. The company is not holding back in competition either; it is spending billions to shape an LTE network to catch up the market.
In the month of April, the company had released some quarterly reports which showed that it has added 579,000 subscribers just within three months, which hiked the total estimated subscription of the company to 34 million. T-Mobile also added 3,000 net branded subscribers under its brand, but it lost 199,000 contracts net post- paid subscribers in the same quarter. Encompassing all the aspects, it was not a very profitable quarter for the company, but some radical changes and decisions were implemented in this span.
In a statement, John Legre, CEO, T-Mobile, said that the financial results and operating matrices of the first quarter are showing positive growth, which symbolises the positive effects of changes made in the fourth quarter of the last year. He also added that for the first time since the early months of 2009, the company has increased customers under the T-Mobile brand. He believes that the merger of MetroPCS with T-Mobile USA will make the company the value leader and premier challenger in the wireless industry. In his views, the things have just started to move positively, and it is going to become exceedingly exiting now.