T-Mobile Sold 500,000 iPhones in Less Than a Month, but Revenue Dipped 7 Percent Ahead of Launch
T-Mobile released full first-quarter financials late Tuesday evening, adding that it has also sold more than 500,000 iPhones since it began selling the iPhone on April 12.
For the quarter ending March 31, T-Mobile reported a 7 percent dip in revenue from a year earlier.
Adjusted earnings, excluding interest, tax, depreciation and amortization of $1.2 billion was also down 7.5 percent from a year earlier, though that figure was up from the fourth quarter.
However, T-Mobile has been pretty darn busy since the quarter ended — adding the iPhone, doing away with phone subsidies and closing its deal to acquire MetroPCS. The company is also spending billions to build an LTE network as it tries to catch up to its larger rivals.
T-Mobile had announced some quarterly metrics back in April, when it noted that it added 579,000 subscribers in the three-month period, with contract subscriber losses for the quarter narrowing to 199,000.
“Our first quarter operating metrics and financial results are showing positive impact from the changes we began making in the fourth quarter,” CEO John Legere said in a statement, adding that the company added T-Mobile branded customers for the first time since early 2009. “Things only get more exciting from here, having brought T-Mobile USA and MetroPCS together to create the wireless industry’s value leader and premier challenger.”