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T-Mobile adds higher-than-expected subscribers on 5G demand -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: T-Mobile’s logo was advertised on a Los Angeles sign, California (USA), May 11, 2017. REUTERS/Mike Blake

T-Mobile US (NASDAQ) Inc beats estimates Wednesday for subscribers additions in its first quarter. This is because it benefited greatly from rollout of 5G cellular networks.

According to FactSet, the company gained 589,000 new monthly phone-bill customers, as compared to 584,900 estimates.

The wireless company’s total revenue rose 1.8%, to $20.12billion. This surpasses analysts’ estimates at $20.11billion according to Refinitiv IBES data.

However, net income fell 23.6%, to $713 millions.

The company’s shares increased 1.6% to $127 premarket.

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