Performance exceeds expectations, user growth achieves record high, T-Mobile US (TMUS.US) enters a new phase of CEO transition.

T-Mobile US (TMUS.US) announced better-than-expected performance in the third quarter of 2025, and raised its full-year performance outlook. The financial report showed that T-Mobile US's total revenue in the third quarter was $21.957 billion, an 8.9% year-over-year increase, better than the market's expectation of $21.903 billion. Among them, service revenue increased by 9.1% year-on-year to $18.241 billion, in line with market expectations. Net profit decreased by 11.3% year-on-year to $2.714 billion; earnings per share were $2.41, better than the market's expectation of $2.38. At the same time, benefiting from the recent acquisition of small competitor US Cellular, T-Mobile US added 1 million mobile phone users in the third quarter, better than the market's expectation of 852,000, marking the company's best performance in mobile business in more than a decade. T-Mobile US completed the acquisition of US Cellular in August, absorbing 4.5 million customers and expanding its user base and spectrum resources in 21 states. Mike Katz, Market, Strategy, and Product Chief of T-Mobile US, stated that the release of the iPhone 17 by Apple Inc. (AAPL.US) in September also contributed to the growth of new users. He pointed out that every iPhone release season is a moment when "many users re-evaluate their plans and look for better deals," and "the results of this quarter just prove that." T-Mobile is currently in fierce competition with AT&T (T.US) and Verizon (VZ.US), with all three major carriers launching promotions and discount plans to attract new users, but this competition also comes with rising costs. AT&T announced on Wednesday that, thanks to a series of promotional measures, its monthly cellphone accounts and home broadband users have increased, but its revenue fell below analyst expectations. AT&T stated that the intense competition among the three major carriers continues and there are "no signs of any easing." The company reported that its churn rate (the proportion of customers switching to other carriers) has increased to 0.92%, while T-Mobile US's churn rate is 0.89%. T-Mobile US currently expects to add between 7.2 million and 7.4 million new users for the full year of 2025, up from the previous expectation of 6.1 million to 6.4 million. The company anticipates that the number of new wireless users for the year will reach 3.3 million, with approximately 130,000 new home fiber broadband users. It is worth mentioning that the third quarter financial report is the last report during the tenure of T-Mobile US's current CEO, Mike Sievert. Mike Sievert will step down on November 1 and will be succeeded by the current Chief Operating Officer, Srini Gopalan. Srini Gopalan is expected to lead T-Mobile US into a new phase, focusing on expanding its fiber network, including overseeing the integration of fiber internet service provider Metronet.