T-Mobile US (TMUS) 5 May 212021 Q1 Earnings call transcript

Good afternoon.

Following opening remarks, the Earnings Call will be open for questions. [Operator Instructions] I would now like to turn the conference over to Mr. Jud Henry, Senior Vice President and Head of Investor Relations for T-Mobile U.S. Please go ahead, sir.

first earnings T-Mobile's the to quarter call. XXXX Welcome team. have our CFO; President our senior well call CEO; Sievert, we today leadership the of our On and Mike Peter other members as as Osvaldik

which a our During this call, materially encourage actual risks risks will I comprehensive make from cause on SEC our uncertainties may -- to We factors number provide list review. which that a to forward-looking and results of statements, we filings, involve in differ forward-looking our you statements. of

Our earnings call, related and as reconciliations release, on the investor and this other results GAAP be can fact well to documents book quarterly non-GAAP between on of the results like to results also our discussed the me found results represent that website. call QX section merger as to XXXX of let to I the quarter standalone Sprint. Mike. to prior T-Mobile the prior turn over with our would historical note that, second With Relations Investor

Thanks you all. for Jud. with see know you if Xth don't us. being May can the Hi, here I be and everybody. Thanks

If of quarter the doing here what you're headquarters. ways another push best, show person leadership our coming to be team not at here be do. results center at further I'll we from right incredible to you with this great work. members, while many by in what team And putting great we together talk is we you even to of done at as about T-Mobile competition, do And have tell it we T-Mobile of Results customers safely as ahead work the better, Night to find Fight we Bellevue today. that watching, our even the T-Mobile our continue in and live so we're Octagon to of gradually

addressable markets synergies accelerating XXXX. our for leadership, customer fueling to delivering We to merger in are start terrific and our momentum off From network a expanding is which growth.

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and First, leading market growing delivering our industry by relationships. growth expanding addressable customer

company business. synergies by with enterprise finally, positioning Second, customer brand start merger the success the realizing best and with few a sustained leadership, getting and XG And delivering and for substantial and transform stronger off experiences. bigger I'll to faster strong long-term our value highlights. beginning our

the superior customer industry our while in did And again, big and adjusted it we while and strides perception network add building making net fame value led delivering T-Mobile on growth revenues and First, for EBITDA. better-than-expected fuel service existing core yet to service, momentum. simultaneously our

with businesses already businesses with segments serve We're best the value notice we and and unlocking And into network with our and the unmatched third, third-party experience continued XG synergies experts do This is to translate network And overall merger something opportunity all giving a deliver not moves customers XXXX number of to reliable so raise most continued further for enough because beat XG to taking consumers. Verizon We and unlocking AT&T and executing advantage to XG metrics T-Mobile. one of with calls. guidance XG it and to another will year, leadership rise. increased network end us raise both more and the we were enables delivered just confident growth of fastest team. for it's now the from combined despite and on this year profitability America's leadership for and initiatives. right. the Second, the as is yes, their Un-carrier quarter we've multiple quarter strategic perception see Fourth, of expectations penetrated on on and our been which to rapid talk under All new expand beat best their T-Mobile. great largest, busy best finally, happy this of customer plan consumers growth,

some these about in of talk little let's detail. a more So

is a be us to only the already to in before this the were sequentially the playbook customers. industry improve phone We to T-Mobile our including starting churn postpaid the in worst-to-first as for improved we adds, opportunity X.X led from would we that the churn as delivered tailwind best provider execute We've churn And I our wireless elevated postpaid postpaid and mentioned, sequentially As total our XXX,XXX, business. phone mentioned adds rates has same how net our for million branded QX. we to our improve churn X.XX%. unfold, base adds, lead net industry net to Sprint

which prepaid rates strides the X by make This best-in-class years low just saw record churn both their reflected quarter's from churn them leading of we results industry improving continue X.XX%. prepaid, providing that show are particularly QX. our with delivered up important experiences, highest others while to T-Mobile XXX,XXX adds, for and great the On were flat churn net and we industry in and to Sprint in customers

to we're mentioned, in provider, T-Mobile With clear perception the XG by customers for say of our that reality that They the next they're absolutely is one extremely looking catching is becoming things XG a quarter. that catalyst trends choose showed in to encouraged I network perception up top leader. customers for increasingly As the becoming wireless quickly and our is T-Mobile. their

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heard and that been never to which me with and the I customers to and sauce. plan adopt require done that on and highest to the network is our network, team's service award plans. compelling to quality T-Mobile from door before, you, the providing say offer premium and them businesses has truly consumers and winning opens you've scale before, top further secret the customer having prime experience has compromise best for the This keep reasons more reminding best do our across them freeing to penetrate the value the resources As country something experience

us grow customers that investing are T-Mobile simultaneously great in and to a is of the with differentiator which from while the for flows also synergy balance we positioned expansion profits and operating strength only cash is Another likely allows a sheet us, And big ahead free have flexibility with backed business. perspective. model, to rapid

on Last we now to hit network progress have key to already includes in XX% migration experience, We've the the those in $X.X and Today, T-Mobile unlocking stride a already our our which Okay, to to process. our continuing and progress their in delivered we Sprint we're continued integration talk guidance double moment. XXXX. really to improve for synergy moved synergies raising merger the the synergies our to synergies. initial pace than customers shared XXXX guidance Sprint quarter, of billion XXXX. that is about let's for be more our migrate customers network of T-Mobile This

as now twice is important, experience. T-Mobile carrying we last the transitioned as their migration In is Sprint much we customers another network just in roaming quarter. on of addition, took process provide XX% many improve Sprint reasons. of the traffic forward this when to customer include important important approximately two go-forward to is plans. our This that on integration In total step we customers as we're the you for the seamless those rate QX, our This

the the integration already closer T-Mobile First, events, value seamless and brings of the having be that and giving migrations our its and convenience our proposition and network, all that's by value. separating us discrete powerful them future. our to new it approach customer benefits. second, unique the proving experience business that's the brand, plan up the of Sprint into can It's in done migration rate important a with understand which for at of one feature billing plan, sets customers full Un-carrier And a to associated billing it the

traffic As bigger and begin Analyst in This and for synergies for the enable with will Day, $X.X amazing than reliable innovative largest, on faster experiences basis. invest billion, you growth the has noting and Verizon of years on XG, to We're where legacy long-term to With with deliver us advantages seen XG flow an to generation, and maximize customers billion Those experiences fastest to build, the playbook really transformational cash we The we tracking the LTE, today. is with network. build. it results worth already network on but is quietly network network. most the most just that performance T-Mobile overall. and like differentiate already much is so eliminated schedule, remains we're truly promised our ultimately merger initiatives America's over AT&T $XX country come. shared deliver this focus on have on which executing provide to beginning than XG, are to on and NPV XX% clearly never to original not our our synergies originally integration of previously merger that plan and ahead higher enjoyed anything rate run

this roughly to square and This XG U.S. measurements. factor the network coverage accolades our coverage that performance pole mind, start T-Mobile numerous to pack customer as XG. become to capacity really virtually that now and everyone country. gave the customers rollout nearly common of delivers that as alone, recognized and know, connectivity This the you LTE extended T-Mobile and most T-Mobile a as reality. this T-Mobile's that really in only speeds our miles, is than is XG released is foundation as in is lead range third Verizon including have catch provider reaching the And increase download the XG, XG parties AT&T dependability consumers said the X.X important putting from nearly This of differentiating only fact, than across unchanged. work the to umlaut Last we live but network In across T-Mobile's earlier, kick as network and with fastest by demonstrably era other millions to are this same where OpenSignal people the of speeds ultra to the by nationwide roughly year. now usage faster million across the and than of more most on the showing performance. -- essentially increased XX% latest XX% as like perception million we're In reliable in out rapid offering people, device on our and superfast people the game week by T-Mobile's has well million today. and XXX of transformational are by And notice, speeds the XX% businesses position changer. pull competitors becomes million XG the our delivering overall in equally would. over our the can with gigahertz X/X taking XG of But truly XG our combined. OpenSignal end over and finally starting ultra independent speeds year. year, customers gap you capacity way XXX ultra umlaut at all and that networks T-Mobile deliver Verizon XXXX. coverage We from two XG our is AT&T faster And last expanded geographic About shows The we on combined. X.X of real AT&T. people with ultra multiple XXX nationwide to with and rolling month and more That's an this, XXX by based their not the to the available. it T-Mobile beginning does Ookla, of about that's capabilities now while to away just bottom to we're already stayed capacity line starting of unprecedented up them than million I capacity travel brought above. XG speed And average We're we've since Verizon told the end the XG Widening pace XX% delivers report also expansion so-called enabled covering last new

most advantage only MAX discerning consumers from truly early positive that T-Mobile Magenta customers we when trends customers giving in the putting XG usage plan MAX taking than and that and social more the our around XX% industry's our are video, with engagement hand. full ultra a of we customers MAX higher XG indicators Magenta XX% other our levels For capacity XG and offer customers, the on music Magenta is than underscore customers that right plan, in XG network, increasingly with that usage the palm average higher differentiated showcases whopping capabilities their our see of of The the really reflected plan, early unlimited media their network that smartphones. full consider LTE

I listen, lot about said our here leadership. you the Okay, that is And know XG we're well ahead. I've not a I'm to truth convince

and will think will consumers I may matter unprecedented our competitors, you organizations be our the duration the become deployment to XG momentum, backed our that. from and And XG choices this T-Mobile to second, model. leadership is make. you the positioned for portfolio, is era. spectrum that know to of What Thanks that clear increasingly hearing that greatly what synergy to contrary our our superior maintain

the far brand the penetrated markets have addressable experiences XG. to but with choices. into spent capacity you see March our our new under we and segments, purchase, we're At growth all to the aren't may recent as announced the both or we C-band of carrier unpacking result today and drive potential the opportunities uplink the time from massive amazing Analyst unlock noticed The year. we've spectrum Day, be of of ultra wasting future that will most activity using some we technologies time have any expand through and customer this best so aggregation the like MIMO band full spectrum, We mid portfolio our and latest different

what households With the in to still quarter. planning of our network, the offering XG commercially rapid look future. at we the in are this capacity of in deployment could broadband home industry million beginning of others home the our Meanwhile, than XG high internet phases launched XX more like, wireless the

upside see of we their how business space a just available QX. in antiquated And businesses, more For these the bringing T-Mobile and around one we saw the adds to did benefit can ever really in capabilities like quarters way Un-carrier constructs breaking for XG importantly, We're from best data our and phone net we engagement increased meaningful unlimited All consumers. into down customers building who've to selling, carriers. by workspace shared the only hybrid for And to future that other plans can the carriers And of I well mean, this kicking are that we've those made a data of era smaller that is gear. pooled areas a about the industry But progress a now I of at as for our and We've households of believe long still XX% the dragged as that? major U.S all to from T-Mobile. we there enterprise result said pooled, for to and WFX tailored by large our consumers our specialized featured companies increasing includes mean, an broadband up major peace of products, adapt kicking of rural our having and screaming you products a and fully are for all sales and for ideally make level, focus. calling limited higher recent we're it suite products This customers. launch, are force which with suited markets been into help data government mind the customers. enterprises handcuffed secured yet change because and the business. certain of innovative unlimited of companies.

give our alternative we're so will a our next be kicked product them the and broad experience of TV model. new we long that And jobs offer few reach is initiative relationship range on filled on communities over create areas, of TVision messaging our in to with on great many building years, this announced of quarter, distribution decade innovative we pixel platform. significantly our small premium more cable Google hometown This a needed, year. towns add our experts customers including premium beginning rural the of to off urban YouTube new our X,XXX evolution TVision devices, points to beyond and to as which distribution Android, to plans This

comment just over team quarter, just a ready operating so in while and moment get Peter it I want a to So turn thank much our weathering pandemic remarkable to as the financials, to to I our take do delivering to on uncertainty. for

highest the these to in service continued growth EBITDA overcome and industry, and We challenges customer simultaneously delivered total delivering free flow strong the cash adjusted core while revenue, growth.

fastest perception notice. And execute we continued is and largest, customers We launched our third connecting deliver customer continue are network positive to well-positioned our synergies. the offer by on have time, growing With reliable at And we multiple world. best merger the and many network to just we most to XG over thing their as nation's approach on in be to world and momentum our multiple to parties. integration starting backed to are mission customers segments, continue the initiatives profitably unlock the to across unique to

Okay, let it it on guidance. Take away, and to our our me Peter now, Peter. comment financials to over turn

Mike. Thanks, Awesome.

As you QX. XXXX and can for on is expectations and the in We at results across the our again with all beat expectations our firing tell, momentum this kicked QX yet on business winning as team full playbook We we executed off strong good cylinders. year. look

customer last our income site Net $X.XX the continued to great briefly merger XG better growth. than of an per of Service the and $X.XX quarter. each these these basis. costs integration lower costs related grew costs than of earnings rapid of of revenues touch $XXX share consensus of we Cost quarter the with included and expectations, merger by of $X.X share on driven let's included related network million or results. and were tax support after to efforts $XXX advance billion realization. primarily our $XX.X volume synergy will $X.X on our upgrades services So billion, from timing of as per continued expenses billion reflects vary diluted increased both SG&A as deployment benefits were million

roughly tax from revenue provided billion, Our was EBITDA interest amounted compensation. of strong we $XXX and billion, to over or to additions by Meanwhile, and rate postpaid by driven account was X,XXX as increased $XXX.XX our were nearly account postpaid what million by adjusted with synergy with rate from aggressively in billion merger amounted $X.X lower purchases benefits driven X% and saw XG QX. our rate nationwide payments Net continued to in including capitalized $X.X Sprint service network. ARPU flow the sequential operating a guidance equipment, QX revenue ARPA, cash of $X.X property in as double average XX.X%, we which performance. while amounted growing reconnect phone operating cash net totaled of ARPU was QX burdened Postpaid growth Free which and invest plan stock-based per of customer to Core improving effective our by result activities realization. cash build was costs migrations, lower related per QX line our fees account, reflects activity. arising billion, out lines customer a of and fully decline late continue $X.X and

financing low below X.XX%, market, record look at QX remainder on ARPU the senior a issued we notes issuing dilution expect for XXXX QX our unsecured compared we billion now we the X% paid also senior the X be QX. done from opportunistic full the pre-funding and X ARPU momentum of X.X be in year. billion, billion And in of above average a of we yields levels This billion related tranches Taking which $X.X a March, set X-year in for QX expenses to to which cash XXXX paid January, an our for purchases of activity. to in and Then the With our excludes X.X% for debt. approach at be yield QX, we had cost our XX-year some X-year, low than our to watermark senior hand XX-year through interest in high this notes C-band less portion and our allowed business, X%. that within a be billion Also our great will including time funded basis. to notes, In year continuing of down to C-band rate us of spectrum issued relocation over estimated redeem from by notes drive in financing XXXX. of on $X.X

how momentum this our Okay, with impacts and another raised beat from quarter T-Mobile. let's for talk outlook XXXX about

cash primarily guidance on anticipated We ahead leasing of and the billion, opportunities a Our and growth. our by X.X X original of continued switching discussed, guidance reflecting and to increasing between billion in billion, to and off you higher QX and device growth $XX.X expect $XX.X to range core fewer our faster $X.X of are promotions. driven in our adjusted $XX.X and costs expected billion. in the to and that by reflects merger $X.X billion our growth, original step QX. These $X.X EBITDA in to taxes, on for for up million the the by related an a activities be between million $X.X and Included $X.X reduction payments billion, and delivering the continued before with And $X.X original now in along Net guidance from the of be from environment. costs current expected driven billion and year total continued investments is QX year, the provided increase synergies, including in be in to now million, billion our QX. of $XX.X billion Core $XX.X and to merger we quarter-to-quarter, an with EBITDA guidance and between second $X.X versus is activities, billion, expected initiatives network be driven $X.X on be older our This up billion original X.X range us sequential ARPU on half before $XX.X increase to lumpy billion to now saw a taking between growth. $XX.X relative OpEx billion revenues $XX.X significant taxes. transition be expect billion as customer compared postpaid costs Mike billion assumes now network primarily from operating expected will while of ups related of X.X continue profitable Merger expectations to original lease share momentum, billion expectations not leases million, in additions net adjusted again now between promise simultaneously between building profitable of to focus by

We original high-end purchases including our cash procurement we and to further. and at network interest guidance to the not payments proceeds billion expect also cash Together, billion to integration, pace any strong realizing flow, go does this of free than equipment costs of be to this property growth of higher capitalized results from to of deployment billion, $X.X investment $XX.X cash scale, range in in be $X.X in as material billion and capabilities guidance securitization. reflecting our from continued billion, the generation savings XG assume prior $X.X to robust of enabling expected related the $XX.X dollars while increased our billion flow for business, of $X.X range of merger including the

in expect about unlock the flow and including substantial We're network to long-term effective Analyst in for potential significant and questions. our to our get free by than enough our with for shareholders, and we we right, us the to execution gives cash XXXX, the business $X.X expect merger and to track free $X.X We're better to and $X.X our billion rate invest me, strong of integration. on between you tax execution momentum free All while $X.X year repurchases with together, and driven flow with plans billion confidence shared continuing expansion guidance of All between future on flow. generation unlock to revenue between share in mid original of ahead. Day And that peers. our billion expectations synergies value service excited billion, our margins our XXXX massive significant continue higher at XX%. and compared to your full let's XX% lastly, merger We and cash cash be

You via ask can or via Twitter. questions phone

phone. please. We will question question Operator, the start a with on first

question Hodulik first Our from with UBS. John come

Hi, John.

you Great. are How Hey. doing? guys

Great.

Great. Couple questions.

the adding the were was what's the about how just been getting, adds then I you migrated you are commentary far mean, saying growth great. would the stimulus thought are you are percentage you much we we've that of that through But T-Mobile forward -- I beyond guys sense that? charts process off have to Any driving pretty phone -- forward? then are mean, checks on I interesting. that a give quarter. the Thanks. didn't industry ARPU on First, is think this seen. on people going And Sprint customers go to dilution to commentary be trends what you many from over And that guess, guys as that lessen plans. expect that I enough sort any on --

to ARPU I'll question. on add address trends Okay. see if Peter, let then anything. the nets, wants Freier And with industry Jon maybe the I'll start and you

in Some great there. news

And of John, about QX, a suddenly lot of saw And lost our our by being got model board. off our cash second was the half money driven refunds, an there the less really tax industry certain etcetera. performance, of that's of there's competitors QX larger of the was competitive is environments and quarter, sight think and got particularly of a in strong there their very we that over probably read in environment activity economy, type they they And question, and way. -- the at We of quarter was to half with that you've think going least that they I less got a picture when think switching it. we've kind -- in flexible. a and was that's start stimulus, across a the economically certainly we're past comfortable seen system the in strong the sudden were it's year in less lot that momentum, circumstance talking continuing. driving Your that on as in macroeconomic to of second But it. a answer on, the the

our from as that well. of heard competitors You some

As it very year to in but on this momentum. confident switching. we every a our we sense way. the relates believe work through doesn't in are one the gain Remember, model talked have And forward, many return take all looking will and respects, every macro company. switching will, along to to week it relies And that be that I'm it we've that is month,

generate we've a And always will and The second more is for generally, back starting just the economy getting than getting half think beneficiary we second about to we'll now. in switching. generally, people But the as see first first us And happen stores. of than all switching think it, we half, production half. into seen, because half the back more after T-Mobile that's the more that's

to the how on there, and it's out and competitiveness I'll the turn Jon, to relates and the it Peter we turn I'll As then looking think to brands offers ARPU of question.

and is really Mike. just But particular And of money we kind of was, marketplace the what was coming the taking at terms Yes, of But quarter said, in pleased coming you, plan big interesting the saw then with to attractiveness those of And rate the rate be And really Magenta in two very an terms refund in great one of switching that uptick at that out the an the cases, like launched during to of of stimulus quarter things because benefit very good end terms really have that an that position We also we something tax today. the pandemic, Thank people part Yes, we we can network of into QX, look that number the things saw of value time. and the of our more with too, that we really the marketplace, saw one, people with continue the our were in rate experience saw they a you bet. you incredible particular MAX first we Mike a plan. February. plan best of when the market. etcetera. hospitalizations, that part plan value people uptick. that was T-Mobile the etcetera, in

said. our love confident, we're incredibly Mike we So position, like

continue but And that and and half some the the continue a are will a places as taker. the that expand. in to there's like you're tale to highest. Texas And reopening. you share of you. New at improve. to position the happens, kind see pandemic of What when and Peter, I switching York expect in places turn see One, California the continue We second always of love competition accelerate like two our reopened, Florida, huge to you is is see kind really some other tales. there's of have of we're to that, the other process to seeing will course, when that states continue still We And pool

Well said.

the So, Peter, was -- second question remarks. of question the about your part

low You balance the through and Why year. see ARPU watermark QX for the the for of the be mentioned is that? year would that trends rising we

as what the the and building. around a to majority you and another here network premium Neville consumer couple are One, frankly, that just as Yes, it coming that was things. Magenta about does thing. demonstrates And the base MAX, been customers. that momentum off that this element understanding But to there's migrated. Jon it's Sprint bit. we it profile take is talked it the power Magenta had which on two talked little to of that's and right, premium in plan and great the really think It a And and Jon customers part the things. there the continues Sprint question MAX. of Mike, about amazing, continues of network. of perception just And of a does usage I exciting team second as the highlighted And capabilities base. improve evolve again, we there day. rate so XG attracted this just Analyst these it And a that are shows mentioned, the are is you, has customers this And in

as free to to excited unlock well. growth. we're the the during massive that flow equally really plan those all around the us strategy remember that the predicated we and are So for And of expect allow the which of year get is only growth optimism not about ARPA, on this year. to grow the And here ARPU, things remainder cash ARPU as but ARPA course the

guys. Thanks, Great.

Thanks, John.

you. Thank

with Street from question next come Chaplin New Our Research. Jonathan

got not EBITDA customers, this Thanks, guidance. guys. I off and line I like it in be we we which on Why quarter's wouldn't capture Two, up at if and would Jon, your synergies in synergy growing get growing least the you've pressures lines the Peter, quarter. $XX that thinking billion, just went then about? maybe year. offset on and a Starting guide this above at growing And growth EBITDA? per billion for annualize I that -- that the the take If with may. looking of account ARPU it, What might during tremendous is be $XX lot some are top looks cost story

level a account the grew can bit I'm Thanks. lines lines faster wondering per level you account. going color account grew the trend versus if you that in drove there. of give on the than what's the a difference us at little You lot on

want Sounds start? to good. you Peter,

Yes.

me Let start. Great questions.

free of done with you we So story it's And about the year-end be we'll that and you that both at EBITDA, we guess lately. investments I this Day. core let what really all of year to initiatives flow. with But but That expansion me for start what me talked EBITDA. cash have unlock the massive QX. begins Analyst at And of of definitely remember, shared in making the

from those experts what in investment, of hometown investments a in a QX. out we areas. and are WFX, going put for are rural the T-Mobile Those to initiatives do distribution saw beginning to town business that really smaller You lot we're expansion there, that

doesn't shared making would basis, But you where create QX, EBITDA into COVID an significant year-over-year what, about that at about free I'll that business. we're the because from part it, the you we're of think element as the what to had investments. Day, year lead of costs pro you, take Analyst fact rate last run right, right. a rate It's tell that growth that from become year I'll those we with core that's you're have before even I consider continue that the thinking flow the forma cash trying significant the a on targets QX were out of to of run that So investments

making for about more while already unlock So excited able you. the profitable continued the to trajectory, the growth QX, flow. meaningfully those And of be all being cash for I the investments couldn't that significant increase guidance in promised free

everything up get literally you're this literally an don't that flow the investment but he communicated can business know, talks it's watching is very net an in potential He today. on in when we've next of up investment this or years. year. if guidance about few over I cash Peter's about And that's yet, of that he that And future. And the cash video, Jonathan, eye when twinkle year pointing terms raised interesting board perks point, see part. a the Now, you year, of the talks flow to this to that delivered Peter, the is your across board in across investment all

that's going So also with was Jonathan on be. second per from question and to what's place Jon, accounts? a account, good about lines

Yes.

here. things So two

existing new competitors, adds knows, we that two, from from deepening we our two postpaid customer really everybody As that from phone drive the and relationships have accounts we from One, switching create today. our our net ways.

a way of in both in saw big things action very we QX. So those in

new First customer news two, to of T-Mobile. QX, in switching then, with deepen shows really to as from which the terms opportunity of momentum of accounts the relationships we just all, base. is our our fantastic an existing and happening well doubled had you number that's And

of that our account just is lines Sprint to the number have typically branded to lowest basis. of customers, One traditionally the per on a remember they things

deepen have So really opportunity there as grow our more and we relationships to well.

the course, and with allowing you then accounts. a interactions are in had what customers, people the that of us our to looking is stimulus existing see refund of a relationship a So their typically kind we've grow lot of And tax with event of to really lot grow us.

on our love take approach QX continue of that we into beyond. those forward we both to to So, and and want

is quarter, it's just love your is trying focus small free our what competitors of other they going our be Jonathan, them. fact lines? is because And, we what in churn about churn quarter if they're you. getting thing the at grandfather And have really best sequential this question and our the as brands. is in up part was on? driving and what's us. on you Jon And accounts. there ears we've though. yes, Is industry again, lines percentage their things only postpaid bless always actually T-Mobile this in the But value. accounts, to God gainer we actual total can T-Mobile what fantastic gross paying And free has something is -- were and what which what And with competitors relationships is constantly on this this, and filling are of decided on new course, if saw always everybody's I And I hope one I It's we prior value said churn the of up found the customers this, XXX,XXX them been. customers those for quarter answer think were that big account that we is, success, give net deepening really versus they because the versus a a this activations, they very can position free to know, at that's churn. don't of that know And think relationships when accounts, total the that decreased they with our with might

is up. while. And give game plan a they it's to leave, they they're our is our for been value, And a a tailwind. of something churn if they to going have one that So this tools, that them part of giving know

were So don't about a at chance if it anyway. getting to you gave anyway, me talk you I that, know but

That's great.

high-end I $XX EBITDA guidance his think you about eye a of the billion just got twinkle probably well … as in

Because Yes.

more in [technical Thanks, Peter. quarters. can future difficulty] … but we

You to take already please. next well. Operator, want one, so the him know Terrific. That's you great.

Absolutely.

Craig next question with Moffett from comes MoffettNathanson. Our

Hi, Craig.

you. thank could. Two questions, Hi, I if

terms if against blog a of the wonder couple subject in pipeline the from ago love hear of accounts. long we about typical was post long of of commercial for about hear talk competitors and I they've as what talked process we're ratios of -- as And what the each porting just ratios a your the is I'd people's and from kind I lot what that separately sales could see, land more porting what Mike large then, point. you to I their those thought First, some of a and T-Mobile. competition the on about versus if at and could sales wonder the this little like bit you maybe how with, being accounts, ears pipeline AT&T. looks days And Verizon exciting. to about if fill positive cycle

are account new from Overall, our they're And account are T-Mobile. quarter very growth growth, and porting you that at flagship so Sprint negatively the questions. overall T-Mobile That's I'll of Yes, growing. they But won't one. last get T-Mobile competitors negatively accounts I major our they overall great or combined. first to know. growing. tell start on quarter. Both the now brand. can't they you to their combination the if brands, this said, across and we're -- porting XXX,XXX is look great. very as net our what Great, And don't of either in telemetry all relationships

on And they're read as on that's is the it that to porting been is data bit can't relates that haven't because least artifact, a focusing it that either of means it combination good they getting. a recently. get at what why of a the really weird And so and we

while itself fantastic tailwind to the churn, industry postpaid around If Sprint we can level overall told artifact you So overall well growth. we've something dragging at we're very that's to would declining mean, And business. it's fantastic. momentum dissipates, churn at of resolve pleased. business a look with for look our we tailwind. the got that's Sprint nets lead how that's for and start and that and on this will a I become you is this churn And as it our

Mike, artifact I the second So they incentivize look especially to seeing port the If their because we on it's on this Absolutely. they -- at are account? lived. makes part, where fueled at end, one be short hope that actually And, probably ports least that enjoy moment incentive and promotions own going by sense. can what

Commercial.

Yes.

Yes. Hey, Phil Great [Craig]. (sic) question.

when things sales lagging that know activations about a of are in you're the the about think you and probably this big, when little because tend I be cycles to businesses multinational complex, sales one a agencies. and you're enterprise agencies, indicator government long, is, and large talking bit space talking particularly of government

way, what's we've successes last did over able and variable success we this had that at of we've advantage us and new many that which year from Mike, started in we're enterprises the stacking is decisions one way those differentiated nets. really quarters we key quarter start the that business a now which that of And in -- take their to funnel by we in really wireless hadn't the allowed is really the funnels opportunities. companies the course mentioned that that And this the network on top today with dealing accumulation best that So, phone build start accruing up T-Mobile in network with for really make team of been a XG seen really QX. quarters been previous that like network this asset, as has successes as area building, that's to with leveraged parity we the this is got happened engage to

lot to able New deeper opportunities include companies we both with go before and that that we're companies with. existing haven't that engaged a

So funnel and QX, the it up the for well success confidence year throughout today, private look in a best when over at the funnel, sector it's the that of success at is the been the of as gives and really I both and great our sustained ever as me public I in place next years. coming setting us off look couple business

next And Cusick from comes with question Morgan. our JP Phil

for questions. Hi, thanks your Phil, and

you. with Sorry, Hey, we on? didn't get to close going out Phil, what's

first broadband what on of up business couple you. of home uptake I months? And nets then phone guess in any are? early read previous question, the my that on all kind second, the can you Thank at following quantify

is going really, … take Mike, The not first you answer to short want but one? the to not be

what year-over-year significantly I but basis. really, seen competitors. say Not And up say a on better than generally would and sequential both I you've from a will

how's And broadband Dow? going,

the a say as in about we’re weeks X we're our little I'd over -- this bigger X coming on we say a to ever Yes, launch, we for things we've broadband. one And business seen customers excited after with I'd say have thanks question. would is post been we And that us. when after what but And on as two we've -- scale, that I piloting. consistent launch. really And we very saw are is who are have just what were launch

of to they we're they I people thing seeing have And And too, more and had just those approached about don't more, may colleague -- was who such even gave you presence America suburban They in feeling, don't said, even and might choices. customer it's where our get when urban one that rural have choice. any just yesterday, think other In I we have and don't this customers I continue that to I talking attract our said and speeds wireless have even T-Mobile. fact, not is you I in was a with and example no relationship a him have have representative neighborhood. great a especially parts many choice, might we're think seeing the -- that idea great a could of

the for service, service. one home competitors these so taking but our wireless internet And customers our are they're of with

gives continue that us love understand with to he's And who us they to talking a customer, great know enterprise our to a even ability as gives so what isn't as upsell. to well. this is to get the and as we business with it opportunity a relationship real customers a about establish seeing business thing someone start well, to we too think Mike's this that I And same

just excited we business again, ever started been. So as we're getting and as have we're about this

questions you speeds to a average how a versus you customers. do What tell about lot customers getting of this I’m sort pitch on of to of kind minimum expect basis?

Yes.

speeds it's like megabits about going per over we second. get customers kind even the gone too many that this to yet. tell is, and haven't are great XXX speeds those we -- service customers And average, to competitors, what are our places with on is think I is we of is that So what offer in

reliable really proposition for really backed a And combine it's promotions, price, our is with fees, that included, a great no the so compelling when great find -- exploding all does that great taxes you service, it's a things customer no we offer, which we a promotions, service Un-carrier no for by the what people.

XX I million it to households of mean, sounds easy can Phil, see that you if like you're online now go shopping, you're qualify. and one our tool the

I'll someone you. Take you. to of Just call me, care get call

guys. Right

man. Operator? Thanks

on with moving Flannery to Simon Morgan Stanley. And

Great. A if I couple for questions could. of Neville,

at data just on of taken XXX You and how And early us now year. with Perhaps mid to up you're band second the speed. you've that's balance per up going maybe to XXX average about disclosed the through network the how to any usage million getting the what that? be how megabits that XG, Any you've network, then, on on messages. pops help the got go if Mike been have think about seems the CDMA on talking are of this which shutdown phones is? just lastly, you're And to many there peers about supply perhaps mixed color thinking chain, some point? the And the

Simon. Neville, to want you questions. start? Terrific, Great

we're delighted we that Thanks, are just Yes. Simon. the Obviously, making. with progress

sitting we're year secured, to XXX this of I competition Simon. on as of speeds are will we're when gate. even half XG already. reach million, for to gone out intend pace for Nationwide at goodness, look that stats down, and ton hands you you our not we balance it's right competitive improve. momentum. out look the at people And if and of people you we've services We're performing and that the of especially next. in a -- million XXX the stats, at there, goal look accelerate us slowing We there capacity, covered And we the into some network But is ultra the almost have the go the when embarrassing through high our not not continue maintain has mean, XXXX to U.S at that almost

and end not the our think be rollout Another that, about and XG. AT&T dimension the on to but mass the on this to the year, band as And also capacity of committing their assets. as just C-band X.X mid spectrum asset up of of the scale think And XG much and XXX is that by Verizon geographic service in and end ultra picked about megahertz that, auction, we'll that's XXXX. through portfolio

So year. that's just for this

clearly XXX So to about per better. megabits to is target certainly end we've And average, would that's on year. get and with because we Verizon We're hitting vendors in dollar in into sights. AT&T we going from always plus put increase key we talked to commitments the be 'XX started market to nationwide, of second, multibillion that this now. network the fabulous. and and one we're And earlier. have, Ericsson is maybe we the is and gap commitments, hope chain our Nokia. try 'XX even perspective, so not have by advantage and at much this going our be stopping the to a going Simon, supply against we that a massive On our program speeds

pace issues is on us in very than a at past. into supply And our at chain supply point seen the network we're radio at So than faster we the much, pace there strong our gear accelerating that's in deep the No for this deploying ever all. we've have more time of deployment. chain side. We're much

smartphone no the supply or side, We're and seeing issues either on issues on true smartphones. gear that's supply And network no we're too. forecasting

into important everybody for question. your that's think to last And understand. I dovetails of kind it

falling the device the transition this a is at free. totally happens following will customers every which the opportunity single customer to to device, upgrade to unprecedented of of we're before customer be making it's penny Sprint And sunset this And We're really CDMA free, don't Sprint I that really past phone future. on have compatible plan well big we at behind. we've in divide for people it's T-Mobile phone and For year year, the rate are this And Metro a asked in our time for of offer, get or there important XG initiative, with communicating the to end to full to we a month, to that more to announced can have relates a to bring who year. it XG a that's have phone, well. going mean saw is and awesome technology half the T-Mobile XG, be really to not Last have next those to commitment do all customers access we've because latest and digital at we All widening. store And beginning one as is and on upgrade is as old which to the the the compatible year. customer track a As order that's will a migrate you the seen of And a well. pay upgrade customers, and transitioned risk in piece single so compatible do a going XG over we do our single of end to every been any any

ahead their full of to the pay rate relates our single of branded them we're opportunity asked we're benefits customer to on that sure will for one plan. make not penny make So more our this And has customers. it for every And ready And the single be is going be to a going transition. this responsibility steam to upgrade. as one we're to sure

steam So and on ahead full track.

you. Thank

you. Thank

Goldman Brett comes question next Our from Sachs. Feldman with

Brett. Hi,

guys. questions. Thanks Hey, for taking the

you in your underpenetrated from accounts mean, assume a we underpenetrated a markets, it's in And you're the rural market growing of would to in you is lower really, just talked go I account have since about, those opportunities account share or and you of question markets, which whether others, when traction business lower against back gain of you those share as key I why when in have those subscribers. is, standpoint, the the an penetration So some adds might new because they net adds think would accounts. are markets, your with new ARPU. of net accounts come that adds, accounts And because tailwind for associated seem I to would like penetration as bit asked ARPU would a a net that to higher actually at old it with be tend account increasingly it opposed to in that as that your your could be pick relative that associated be reasonable a believe growth up you to

are first, for I'm checking devices then that back in the they landline I’m seeing just much were some if through. other see cases there's should offset, going on that that statistics, thinking we there's usage Magenta whether go replacing data just mobile to And interested the so an just when up their T-Mobile, I'm to be to particularly have what of on And So people you're using might when are your their actually phone you. if more plan, about Thank use you curious MAX I'm insight evidence to people any they using as the well? MAX. logic

ARPU. Peter, first cases, growth it. we'll business use I -- to account flip was consumer. you relates and an know, about it sounds and the have start and with and then it on MAX Love to it like one opinion as if I'll

they of Not behind about the not in in wait phone a But has just on a latest best And technologies, that's XG next on it's that exciting, and for of people years separate digitally, it's use And become if somebody behind. to connected the give you but falling And for the invent cases. that couple get people you're around differentiated excited XG And they're Magenta so network a become are They're it's was showcase fast that. screaming unlimited biggest really doing the so to topic. people mid that a country, behind to network. here on for because the true We economically. today. since use that's contemporary with cases popular when Magenta important plan at that's for with this demand falling we've don't it's platforms data. risk have to the And this and MAX best of And is in on have most already falling I consumers, that been which use customers truth of is a on offer here. differentiated XG the able pandemic, it it are it. with outrun when just never clear the commenting the insatiable XXXXs, things fully MAX. been We beginning how connected internet was around became popular connections you're a one

in and work. what also think and do. usage when you unlimited social with a They XG and industry's up network high only the so I've happens a to the roaming unlimited a media a provide around certain that travelling, more a off, music beginning. using use got looking conference that the offer. all with start don't already when It's what around true that's the than hotel powerful extent, to mean, hunting and for provide And they or you connection when light average def MAX we stop only it's this pocket. on other a is all world -- real than full somebody bulb again, hotspots. start And differentiated of they're things. they by video, Wi-Fi. way, connection, were room I it the the of password for And plan, into smart I And mentality I platforms a it unlocks. they do video And Magenta in about Wi-Fi for an go a for I kind my Wi-Fi that's faster true goes a case

and were you And about going Okay. ARPU. to accounts talk

one? wants who start that on to So

depend, Why going don't yes, quarter. you interesting start can And is it's Katz. I an perspective. on and it the of well I think each to as But, add mix Mike really on then, Jon,

consumer. than particularly TFP, market, have large You be of one a into different the you could bit the right? lines it dynamic but about associated Katz with -- you And many account, little could success enterprise heard Mike talk see -- talk you as go underpenetrated

base, happened our town or of see, could don't the we're think, Sprint absolutely as to in this in some continue to we well. particularly as rural, I you happen. the always forget, subscriber But churn yes, in of existing and penetration as journey on continue going smaller worst-to-first that invest

rural. yes, correctness smaller in I that have to Mike, going it's town particularly be definitely you add if mixture. or to don’t So a there's in But, know, thesis, Jon, and anything to that.

about Peter. role deployments. presence, those scaled the time, large we've we and enterprise mean, hit And a a already companies, I our had think changed. single Yes. wireless I long really just you're large dynamics for of both with have enterprise, honestly, presence has of When having you have a thinking it lot

pressure our for You heard choosing there to us, us Day. displacing the create Verizon. talk and particularly with AT&T and more you've Historically, a course Analyst about price is seen, we're growth, role wireless this And bit incumbents their stocking a for of what at was recently our more projects. little and

before, growth of from of come so And had customers we're a with just lot that deepening customers but our relationship our has technically ours majorly been them.

talked over in we just at And almost next we to rural that and yes, opportunity. years. got about like Then And to for nearly finish excited that's sure. That's will that trying ago, the months smaller we've and to the share in a Day -- few low get and of are I our market about X the XX% get teens, we're XX% we country. say, entire markets would about definitely geographic up Analyst of market the

got of that's going base, said opportunity you number we our has one a said, accounts, the per lines course, when be new like so the least look our a Sprint that to traditionally more of that migrating T-Mobile basis. that branded And earlier, at you that to just and of that of are penetrated But definitely. more too, for account things Brett, had on base some remember I huge

our So back there's deepen acquired opportunities us year. the that through in customers for transaction with the to we April relationships still of big Sprint last

also things, as us ARPA existing our So sure, net opportunities us there's of we as in ARPU relationships. there's for but opportunities two deepen for accounts, new those well

Thanks. Brett. questions, Great

Thank you.

to Citi. And moving on Michael Rollins with

Mike. Hi,

Thanks. if I Hi. questions, afternoon. Good could. Two

see a the it down million the churn $XX.X of or like customers. was was terms prepaid it base in The temporary just looks -- devices, the is if in this rates you came something seeing for latest change in first retention if this happened And sequentially. quarter, $XX.X XX% second, prepaid down. million as in you're one curious And down which then lease fundamental from the base

for an amount devices like curious quickly what Just of T-Mobile steady state you're your reduce active between might and to base leases the taking Thanks. future. lease installments approach if and the mix these in that look in

on start if Jon first pile tell. too It's one, the to I'll see in. to wants early

think is by looking seeing market the we're Metro T-Mobile position that I what our exactly for. market for what is is

customers as important T-Mobile, take Metro customers align root, that prescient I said T-Mobile master Metro we investments investments. this is really yet network start net what's need to for highest us network leading know the in our on from and in they and major that and providers. to of the brand. customers part proposition, fantastic. value Metro one we're growing saw -- it's value, churn X they're brand The that And network that to that you decided network shows Metro. -- growing. turn remarks, going the a leading my It we're growth still because give credit those of And that We’re kind add do. just that's have We're around by falling to years too, of this we very with think well-positioned to I be brand, in means out

in is fantastic. out unified rolls Jon be to to As unified that's going and efficient T-Mobile with together in T-Mobile more And a go much smaller with to do after we're markets, which distribution. markets by able way, Metro that smaller

much forecasting you. that their relying with our I'm churn now customer, be if positioned. and is you're place in a have prepaid in leaving. looking connections, not on right more we good how economy need be long-term, important. attracts to category not that So And a I legitimate very And premium in and are this wireless to that's people with think coming offering, credible for a a people

by the Jon, so health to ins many franchise. we I where think overall like -- like would T-Mobile Metro there's I anything but that are. and our of I to that? add outs,

would are yes, Metro offer as retention just only our and new rates seeing something construct, our add by on rates that of a is, bit we through well. T-Mobile construct, customers prepaid The our improving we to that early we really Yes. our by is I We're different early thing love compensation little This survival of from product. Metro acquire that's that brand accounts our seeing etcetera. T-Mobile

T-Mobile our Mike be fantastic to to which smaller T-Mobile like, that news. within and T-Mobile said, would Metro across it a store. just T-Mobile because areas, inefficient have seeing the put met. all moments T-Mobile, and Metro to And going T-Mobile said for we're be a rural us put right we're and then like So street, by extraordinarily few in And have then Mike a Metro ago, by And store. T-Mobile stores able they is markets by

able and to anything offer. smaller rural T-Mobile you store and markets to should everything go one in has areas, to in able that be So be get to

we're well. as that forward to looking So

-- one unfolding lease had than devices, last on it's happening And we differently Peter, outlook. slightly

can that. So maybe comment you on

think we the -- T-Mobile Yes, below plan goal the that the revenues get there. we and on and to away really be out And originations value practically proposition, that billion long-term T-Mobile $X.X the $X giving to about billion it's EIP onto all the irritant. ultimately mid-term new again, everybody to out where put taking you targets by And as timeframe, well, proposition. the when lease it's is bringing the Mike, Analyst down value really was customers laid same that at really Day are

So but there's also be to isn't terms, value incentives. and the goodness migrate right it with definitely customers, on to them about has. that it it's on their something We're that the churn talking irritant to quickly creator, T-Mobile all proposition but a make an Sprint

phones, want you those, like what's ask of to talk? before one well. we your out mode? I coming go rapid the have You from fire to that? Operator, three of to Janice, Do my go as want team to want opinion? in to here, we do or those some or Twitter two Anything

our think on rural America move XG and upgrade. enterprise big good would I WFX the American distribution ones great and I Un-carrier got momentum some and on in you on

Okay.

question about great is there think little here. bit, I a we but XG talked of a upgrade kind American good the

Ho, it did where go? So okay. Bill

work Can anywhere. Ho We says how's it Bill WFX, that business the segment? reception launch. from going? the broad So the So discuss did since launch the you among stands of for

can what’s comments on But going few earlier, a made you expand Mike. on? You've

exactly so to you. from been kind that WFX With reception we what Hey, the seen great and good we've has Bill, hear of far expected.

which us that bringing with process seen facilitate buyers. another first And we've your to seen services the of enterprise One enable kind expected to of testing in have second absolutely get government And and to that so there. the to far. business we would conversations of the is set products things new dimension all we've a of the that we've in to part across begun question. market But

be this that be a they particularly And that's product particularly else. broadband for been in solutions fact their we work a anywhere home One are the so things having the about particularly to starting that's some reception is of and single and one in with exciting big mixed solution that do nationwide. of really appealing internet internet businesses is single office home nationwide enterprise, remote the going we facilitate of including mixed did, what important about what one their things to are it's where some the the pieces can't the launched, has that employees we've give planning for the office work of are we that solution going most think environment been to to And something home, is nationwide get office as really a product, environment seen them. to help

going I keeping to forward far, look it's so … So and great

eye get that is I essentially think nationwide, mean, anyplace an you about available, That's this else. that opener. when for offering they employers, really can't

an sharing that's to to like that the be is something Wi-Fi job. For that with all Wi-Fi experience last their over Un-secured And seen, to kids the year. what try have not their we've on employees to do network, the

then phones. So we'll back that's a and go breakthrough. Mike one got Hey, more you while the to we

the Jim could and computing. we're to distributed it made big you For Lumen what comment doing, as announcement we especially Patterson, relates about on

powerful to Neville is about they Lumen, team XG is excited and a powerful they're got to Edge market. I nobody's big bringing from to you the Mike, it. network. true was nationwide bring really bring solution the Compute because market, as distributed, a think earlier, network And nobody's bigger, a as to Yes, mobile XG excited heard to these from about solutions Compute what think heard particularly important got to customers to you and the too, looking that Edge more And Lumen solutions

is So team begun excited really We've the really already well. about customers. it engagements excited we're about Lumen it and as with

and use some think to parts really in exciting their we on their And come expect working to we're help when transform there's I later year So of potential something lot business new a that customers. there services have cases. about enterprises of to talk the those to market. bring into

to that come on more one. So

starts and happens, what Jim, see awesome stuff. he questions, Mike asked preannounce to You you

right, So operator. that's welcome. All you're --

phones. back go the to Let's

you. Thank

Bank America. with comes question from next Our Barton David of

so for guys. … much Hey, Thanks

Hi, David.

questions. … Appreciate it.

Sure.

guys. Hey,

a Peter question I on apologize four I the So it's guidance. And parts. guess for have in I

change a happening, outlook, your think I than Day twinkle maybe churn was the -- to at impacted the two guess, with been the how specifically earlier versus to Analyst was faster have was that Sprint how expected, year, the the for eye hasn't And people plan things and then yet the or a And and increase of changing much comments kind of relative to And least your to now part related versus much you with about with the you XQ it's talked there. I year? travel your question, not average impact think clear, was heard outlook. I your three roaming in quarter year-ago, going to I it's to at where respect weighted respect plan? to last But base part churn going that So is in but case rest rest the how the related of expectations for second the does how guidance, in X.X%.

baked merger? as from D, Verizon-TracFone what you. that into of finally, you have plan base the outcome If I has an changed as So then a Thank part the was And could yet case? kind

Sorry.

fire Wow, Peter. rapid mode,

them. of Let's out, him you do. Bang see how four all

All right.

and Yes no answers.

right. MAX. Yes, of in both customer have and of course, of integration ARPU no. playing in momentum the year, and actually what we It's seeing terms But business Magenta more race. the the rest also of, we're XQ versus that's about momentum that the terms we synergy and it's why in it's talked the

tell I combination think year, will hard So of better really I you say, thinking I know. you, no roaming start it's a the opening update when remainder or other that's that both there's But for you offer would probably us countries, to don't of know, go allowed Europe about back about roaming. without guidance the it's as to of up borders, travel and I provider we travel, capabilities if international you say would provider, consumers think about better. no up, our roaming to what opening in terms there's other to mobile when you The

more and more will maybe So see. consumers

much Probably hasn't contributor way years. been fueling been it last in switching of the in prior a major the year our it's

it's point. fascinating that's -- a So

updating I I talked think Sprint half? On think the Are churn, a earlier. we saying, we little plan? are in cutting we bit

We the country a see the do reopening we a more bit to little parts different to and of switching region. As basis, increase. see different anticipate on Jon, nationwide than it's that fact spoke the

we whether know or through is them and until of some bringing of playbook to that level saw which of a is as for share positive impact representative hard really it's whether totality us we what go in from the taker QX today's will real So again, worst-to-first. switching the that

way TracFone, to a and terms $XXX But margin revenue say Analyst of with pleased going close would And seeing. little of over I assume to and which 'XX, and to a TracFone that other do in by certainly the about progress there, Verizon really over the service million that not but when did is speak go high external roughly on can't bit So midterm. views. likely see we're they're say Day, they what wait really, for than period we we us in the

Well done, not bad.

Thanks, Dave.

fire. Rapid

Yes, it work. All right, operator.

comes question James. with And Prentiss our next Ric Raymond from

Hi, Ric.

rural back America Good Good and in market everyone. opportunity to small America. afternoon I want afternoon. the Thanks. to go

be distribution rural and You some small town up. mentioned experts picking how there'll

coverage about going? You you how out Can about of by had America. some in XX,XXX. update rural as online talking seen rural I've talked us that's far comments sites as originally also increasing the

you So over about and a to [indiscernible] talk can little what timeframe? XX,XXX sites bit those

we And an question, into the and and a distribution really it's in and Yes, right? in that's competitive place We rapidly know, fantastic put go they product. hand firepower awesome Ric, hand, go that's once changing. the marketing we so part because have

know, want with you start I do this one? don’t So, Neville,

I to good you, Ric. mean, Yes, talk to

ourselves, they're the I we're AT&T So and rural in doing XG. we're America the announced right? differentiator between pieces going Verizon is massive mean, with if what that's to honest for do haven't huge us, even what and rural with

Verizon extended I combined, we one If today, mean, Today, is only there range materially. than more and have in you America. that on at XG rural look T-Mobile. And footprint we're AT&T it's choice there

plan we intend of about incremental network. T-Mobile next sites add the to Ric, to XX,XXX You're move as the we couple the right, in years, through

come And time. will 'XX. sites some and 'XX all sites. the the So some X,XXX in commissioning, more this added and There off be will with we happening that's in There again several of year. be add additional

really to we're services network where of territory, So distribution, an the and damn from parts is coast busy not And in upgrade the improve split. rural we continue been footprint coverage many many the bringing is for rolling just tremendous many, the XG awful full going years. it's U.S even strength-to-strength. necessarily enhance across pretty a has out Jon But U.S. But coast of and crazy the in to

with T-Mobile to headed course, best we overall the is that's and Ric, network potential such go-forward. country fantastic beginning just one of for that's our availability, backed and was that build, the coverage, we're schedule, at to most think this where coverage. of which the they're is that's are. of just result our synergy our the unlock. And this with most for the we now understand just but where opportunity ahead And business not already that -- such the an the as things said That's I having potential this most XG understand. will for remarks And and in in and important we a best network, network that in customers, the best is goal beginning XG, tailwind

squeeze mobile you guys the mobile. goes see opportunity? to one fire the question. Just the an say now a content like internet And cloud? you that maybe you've more to bit slicing appending rapid talk there's to you to about It past, about little as what might what talked Can headed seems internet, mobile cloud. goes In can Is network the mean? XG allude to goes

to model it have as prospects won't networking to enterprise, of quoting fascinating Look, cases of asking, and they enterprise with as enterprises -- XG, on. on that's want know, even cloud. a want area, course, raise use you that, business flattered deploying customers that it doesn't that does first that it's buying a fuel left able I'm so are business be especially Well, service. to that of Ric, also will the service, as And is consumer assets, that will the computing relates some be awesome. that are as as And say relates but have putting -- a being that behind makes but to we us to aside, you for serve ultimately But are with could our rely yet, which they that what this you interesting all, people our networking notion very want and don't service. to a on

both Or care other more more very don't and less more your to local matter going need network consumers that be alike, showcases asking, will because The the there that our And shines, relates about an cloud, they notice? high network people businesses future. rely the advantage more tailwind a for cloud The matters. And is, customers, latency as customers to be matters. as it are T-Mobile's consumer the network the enterprise network cloud good. it compute and on compute to really and speed more is applications the the is, XG low advantage a our issue your will potential, it cloud is experience rely your are again, that customers choice? for differentiator on Well, your

Thanks, Great. Mike.

bet. You

to Synesael on Cowen. moving Colby with And

Great, thank you.

competition it is half to itself second generically of fairly expectation an there's secondly, to going to say the that. expectation also tied I'm and what improve, just all a respond it think to switching going just to of terms expected baked into show in does guidance we that clarification. increase. think you've is EBITDA which when aggressive. I year your I to the And you've And that's extent But that point this think then are that flexibility expecting. we is curious, in of that the about competition

You versus and XQ results up is you. guys Thank so through to higher if in up expect the In XQ that just XQ mentioned me, excuse you in linear. ARPU other wondering XQ, XQ than over that's obviously be forth? words, but XQ -- I'm XQ versus XQ.

all, the awesome. of thanks first It's Colby, Well, for question.

give to the our pen the competition And are start questions. back great a for it's have the out, because last day. four going I'm We're ARPU, You're ARPU then the quarters. No, piece. question your to just with next I'll if great kidding. And we'll Those just you of you come question. figures

So, Peter.

I quarter, great. promos much we how into And all baked that also Certainly. for by right. would be think EBITDA All

really great are questions. They

from No, there's linear. necessarily for but promotional they’re questions. There's things, is the There's other and QX, T-Mobile excellent mix it a that, increasing. but higher year a when consumer, low of aspects. No, or much linearly of not necessarily come, There's business rest it's how will be seasonality. the watermark than obviously in investments not

your philosophy to it our goes question, And to whole other and really mentality.

closely, if our Some people us conservative. you follow at guidance, record then our would we're for saying who look actuals, and forgiven track be on

don't And If know. And feel our we we competitive a what we're prudent. know don't record, is and you our feel actuals never We track look and hyper this just we business. at conservative. like

a that may you're they that bring that it that’s hope quarter unfolds. hand things, I this prudent. perform and changes next And back innovations when and outcomes. really we and appears have of deliver how if do will have on sometimes to and thanks fantastic it strong We're it's certainly I with year. Thanks totally you. we'll appreciate hiring cards environment, do tuning conservative year we we that fantastic give ready. a start model the that's we're appreciate a ready. question that's guidance this ready, so, most we what you journey I that we showcases certainly our to again. execute anyway, we're joining the of be on. has And have good. hope and it's be And to muted be a enough. This And you. what reasonable will are us. a it And And this stuff here this. is our how just we for we We I yet give not race. so a get in for serving enough. always if what be it, a it's everybody all why this certainly and for we competitive it And consumers beat yes, to a us aspiration. that. covers incredibly if been T-Mobile. And ready long think competitive you celebrating and that great And we expect at assets through see will set been end Thanks change We're flexible we're more ambitions that's year. And good. a brings we about guidance And we're think it's to But somebody to else like If like of enough now. if going that is bring. We well, is environment, hyper We've

Thank T-Mobile first And XXXX concludes US and gentlemen, call. you. the ladies this quarter earnings

Relations or have further you any may your Investor you Media questions, Thank department. you If for the participation. contact

pleasant disconnect, now may and You a have day.