T-Mobile US (TMUS) 27 Apr 222022 Q1 Earnings call transcript

Good morning. [Operator Instructions] Today's call is being recorded. I'd now like to turn the conference over to Mr. Jud Henry, Senior Vice President and Head of Investor Relations for T-Mobile US. Please go ahead, sir.

everyone. morning, Good T-Mobile the XXXX call. earnings Welcome first to quarter

leadership today Sievert, our our Joining the as me and Mike call the senior of members Osvaldik, on President are CEO; as other team. well CFO; Peter

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

Our investor accompany book between Mike. other our the Relations disclosures the and QX and Investor With reconciliations the on can website. GAAP turn earnings call as Quarterly that, fact over release, of me materials Results be found to results that as our section non-GAAP well let

what Hi, an time Jud. right T-Mobile. Thanks, everybody. now exciting at Okay. Well,

board only in exceeded guidance X to of consistently Wall Street's we've across the targets year Sprint. incredibly the we with we X-year have I'm closed have see expectations. the since our keep just can right but of own accomplished off to a your we that in not on proud years QX raising XXXX. We to outperformance comments our kick what for in stretch brief that the but that it's our of cover lot the our momentum We hard we We And time so It's delivered we're been as business. based another integration. get believe anniversary our We're we'll questions. already accelerated exciting also home this merger. to this our celebrated merger

mid-band sites both, years. customers very coming the we Verizon though greatest Americans. just don't combined and of on with now our Sprint substantially the XG. the dedicated also LTE we're XXX of than from pivot than cover in we're million we XX% targeted mid-band the And apparent merger are nearly these by our milestones years are as in been One awaken QX, millimeter still we as from network merger all all we've of more XG into close. milestones, Remarkable out And even next of XX,XXX We after largely our our big of half roughly these with people this already laid merger. team just Capacity than what a sharing lead to X to site. spectrum to decommissioned less from our were to second including more people the to upgrade in will to to of rate sites, XXX shareholders. and transformational some run the we're industry of would these year, the Un-carrier, of for their we've And trade-offs close. moving Americans forward spectrum think biggest to and trying the biggest They XX% spectrum low-band than wave Sprint now approaching and to our others eliminating year. anticipated which over forced within ramping T-Mobile. era. the We're synergies behind to spectrum efficiencies but X/X scale AT&T pain game-changing push impact further up by for only At X merger with good businesses, realize That's massive expectations in to our plan only customers was a month willingness the U.S. pulled the Ultra the of X the reach We've And and from in coverage And this raise of and the have remaining see by value. cover customers bigger their are is the achieved our are use We the million synergies to the Perhaps XG synergy advocacy to XG. a sites greatly benefit selectively decommissioning synergies execution where network as them chase be of arm's couple and industry already or of customers years we committed point was all and performance this XG with deployment. delivering us We this expected way, off XG select make since networks. geographic leave the of Pre-merger, year. T-Mobile that I many few between the of they caused faster track investments year XX% a closing increasing years fast cornerstones experiences. decommission with and by quality synergies the consumers an leadership And realize close.

only real markets foundation unlocked We've truly the largest building with and unlimited growth platforms net closed. and service the this customer roughly delivered core in growth net account X we've the and for for only first articulated provider, to that differentiated provider As we've government, enterprise bringing accomplished to X sustainable potential smaller service clearly across since revenue bringing experiences MAX. period. consumers, commercial over areas, years T-Mobile including in broadband. national like operator over rural new the led in as the serving growth our product postpaid markets And value And EBITDA a million broadband wireless we have to already time, XX.X customers, and adjusted with a fastest-growing the plan established double-digit a In both adds. and we deliver postpaid revenue XG postpaid industry strategy, in wireless net an households X We the year were industry-best and adds in X.X national XX Magenta growth million and that the just consumers competition adds, million while launch. proposition million XXX better merger phone postpaid million the and after also prime over

this momentum right net We QX of our yet industry account another momentum financial incredible delivering growth the both of industry-leading quarter our the added customer and in brand. Magenta built XXX,XXX QX ever are XXXX, the postpaid on highest in adds, reported carrying We into highest and again.

our the said I've of winning this As this measure that before, we're the best decisions is billing barometer total industry. switching in relationships

QX them into products to years leaning X.X be best X and more million. to services. and number time includes with an across are than postpaid on Verizon appear we AT&T customer phone deepening we This postpaid others delivered postpaid growing of adds lines their base, net in our then focused adding relationships over our and And industry adds. XXX,XXX That's the highest While nets net combined.

Our X.XX, QX. postpaid national just phone again the sequentially. the as and really yet dropped year-over-year industry operator increase. QX competitors churn churn improvement integration-driven wireless were saw phone only year-over-year to adds best whopping our matters churn This in the their improvement our by the We highest churn to both a basis in points industry XX from gross were improve because

just industry customers the for be smaller to XXX,XXX. adds same In phone provider Magenta be fact, in had XXX,XXX to in more dissatisfied I And second the and postpaid Demand about the been build I will if was closer Internet, the fastest-growing as suburban Sprint QX couldn't rural where excited net customers underserved markets expect broadband the continues quarter. high-speed in the adds would have and to consecutive churn net we from cable churn, areas.

cable Promoter Net Xx to broadband. continue scores is for Scores Our quarter-over-quarter we're than to are and, part now improve The started just the getting customers. more best average bringing NPS the Un-carrier

store MAX drive growth. to adoption So strong of from for customers great is tuned helping lots trends we see stay ARPU still next. what which have room for we further to ARPA and have continues and Magenta in

expect ARPU roughly With the to seeing, postpaid up now that trends XXXX. be phone we in X% we're

In the year-over-year that our addition, each credit of our network quarter, attracting to basis are mix our continue consistently increased showing industry's we best a brand see and customers. on apps prime

executing experiences and momentum build-outs expand good We a continue rural T, households in and of of we areas effectively these about distribution will to in coordinating is competing of by markets reach and households community. to network precision here than XX% markets more our by smaller as community markets team in end in XXXX half new to smaller We our of ended continue the unlock to distribution network. and year. The see the the to expand playbook this

services. and Business on momentum the markets we now, government rural where and for open list in secure expand multinational their products our major smaller banks across continue strength penetration. is T-Mobile year-over-year of where these grew compliant us markets mind mobile hybrid for We've the suite and areas strong continues high-speed and accounts example new sector, workforce. build of with a also our T-Mobile of of as doors XX% connectivity mobile large share built such ever-expanding verticals on enterprise to for to helping great network Internet relying the from are for to QX. customers drive financial our to Our And and

join our private for T-Mobile XG edge BMW. catalyst network businesses we in agencies with recently momentum on and in America XG excited connected responder performance with for QX. significant be XG mobile on introduced of been to edge to the with first networks. our advanced the and leading also And building network has just XXst advantage. I'm Magenta network over solutions durable in continue Drive Our about a like cars We XXXX compute

first led than quarter for We're and and to up. businesses time synergies faster great merger in for just the originally We've bigger with our better wrap shareholder beat-and-raise best network unlocked this value me delivering let offering our postpaid XXXX promise this through customers the a off the into growth EBITDA X of industry-leading the consumers also merger. X us Okay, revenue, revenues postpaid quarter and been since that the of start service a only across a unlocked year. flows. cash the value run in the first core and to board but guidance customers adjusted remarkable best by in in while years growth in And It's We've history. raise not and service industry's industry experiences planned. positioned

let I'll take of and this key and Peter? Our momentum team financial from our is all excited rest in through carry highlights more you guidance our Peter increased the through detail. 'XX QX to

Thanks, Mike. All right.

can very strong we XXXX started with QX see, you As results. off

see postpaid growth, service on postpaid combined our growth revenue last the accelerating with you flow cash merger-related merger That in in others that over compared EBITDA growth industry, X% phone service in profitability flow fueled of with growth industry-leading best deliver Our resulted year-over-year. growth in and That EBITDA even strong ARPU our and growth from us higher synergies, industry. X to execution our core adjusted highest revenue of XX% enabled XX% delivered cash year-over-year continued up years while customers and free operating postpaid investments the to in the CapEx in network. the decline our in the year-over-year in growth industry-leading higher costs

about growth postpaid between net additions execution set migration. board with up talk raise Sprint focus midpoint, QX ongoing Magenta X.X at XXX,XXX the let's in and now our as for brand on great XXXX. to across continue reflecting accelerated be profitable us million how total So customer guidance X.X our We million, our our up the to we expect

to year. upon areas migrate the will first this half building full who expansion throughout markets and not with postpaid Sprint coming guidance We as Sprint include for half second phones smaller does expect half, and customers networks adds the will Consistent more the to with in impacts adjustment. roughly small continue QX, the be weighted the of sunset net treated of a the year the base in of more adds migration not subset net the rural from which

other we CDMA as postpaid the of XXX,XXX at low began QX, we were adjustment guided, As took well end we postpaid ARPU which devices IoT phones, what the XXX,XXX as had sunset devices. largely in an of with line

flow is at sunset and between and and phones and estimate the relatively adjustment other XXX,XXX We incorporated The immaterial cash of postpaid a QX of impact expect and of devices. anticipated core approximately to free fully EBITDA adjusted lower ARPU end into LTE the adjustments begin base these our guidance. postpaid XXX,XXX XXX,XXX

we $X.X to midpoint $X.X to be in billion, adjusted to core now and as as be XX% midpoint full savings up merger the billion between between billion, expect $XXX to EBITDA. than prior to driven the of growth and we Turning we accelerates. the site synergies synergies from at billion device the billion $XXX up and $XX.X more more which billion at to guidance, XXXX $XX.X between service We excludes up merger revenues unlock be We year now off transition revenues decommissioning continue is expect half and by year-over-year leasing leasing. million which $X.X our to $X.X the primarily Sprint to customers second expect as network year, weighted million

similar to higher adjusted $X As result sequential Sprint synergies of onset in to costs timing EBITDA representing core primarily Merger-related expected QX impacts in still billion decline be second before expect in slight core year, $X.X taxes, network between and wholesale a of the from billion expected the an network the included within revenue, QX to be the and then half. are adjusted EBITDA in we not and activities.

for merger-related $XXX in expected costs, than then total $XX.X half up from Net range cash precede now the the activities, XX% in including X/X of million guidance. at provided operating of slightly as billion taper is and the prior payments be by is the expect realization. We to of up off merger-related year which QX to costs more occur second in the synergy to midpoint billion, over year-over-year the $XX.X

net pace which from cash be CapEx the which and billion robust is we $X.X as integration, enhance the XG billion our billion $XXX at $XX last network is levels midpoint and be securitization. to over of $XX.X Together, up more the now investment capitalize $X.X free the the to and and costs, million we we expect any range does cash not expect at million between billion year material higher merger-related This experience. of deployment network for the cash on raised With up than XX% midpoint. we opportunities even payments including with customer inflows growth of flow, now $XX.X in assume to

continuously between year relationships, tax full expect cap strategy rate full We execute now ARPA we continue our be to deepen to we X%. and our to effective And to expect as XX%. be up XX% additionally, postpaid year our

expect services, CDMA the with the ARPU longer adoption wireless MAX. by shutdown certain an we finally, full LTE mentioned, assets X% driven of the in acquired to will triggering networks, impairment also for continued including Mike analysis. the postpaid Sprint of up wireline Magenta business, support customer As phone And approximately and be merger year, value-add no the

$XXX traffic. to charge anticipate enables wireline the assets in wireless which exciting as we supporting and of and another see of cash $XXX assets core growth to customers, wireline free gains these What they result The delivering certain now in we wireless be the find a QX. XXXX shutdown, As call continue we wireless the unlock million Q&A. network service of were the if unique previously back Jud future as range of Altogether, periods would revenue occur. the a and of invest the traffic noncash as turn cash cessation to million cash in impairment assets wireless adjusted also over in monetization begin monetization Any recorded expansion with most to I that, flow industry-leading year I'll our by in to EBITDA. free network to growth flow is significant profitable opportunity business. our And of

All right.

on to Instructions] [Operator We'll first your question, get start All with question please. questions. Operator, phone. a the Let's right.

of line will John come Hodulik Your from the first UBS. question with

quick think. ones, I Two

higher business through inflation? on on sort adds commentary U.S. similarly to First, in or Peter's And have given it your of something want in year. growth from we're any into slowdown like the April? We I from gross what just accelerating store seen heading any inflation, March from Verizon. that seeing the you like about sound in impact doesn't guys traffic heard -- or then

and give inflation. seeing We've of Jon come as heard then we're and little you not we that, retail some consumer. a color with but engage about talk too, John and really I'll I'll the what let And back in on

a at back basis. we're not is And and March you seeing we're pandemic John, of QX benefits that the the we've postpaid QX, great January as year-over-year of in depth to we're actually And accounts basis. expect XXX,XXX February and activity the people X.X actually baring in switching of the when the and in improving bet. What last seeing year. net were on you and kitty seeing would postpaid. year-over-year last Remember, was you that with million look seasonal seeing we're a April, we're that. on Yes, year, what and yes, when door reported, a total overall any switching improve of today, continuing seeing

the really all traffic seeing. marketplace, at when really, I'm what the in look look we're So I activity I at about and confident feeling

You relative for year to that in see churn our period. the having ago It both competitors elevated case can of in us. the wasn't QX

network, we've unfolding as predominantly important the T-Mobile, those on like told and just Our base. you merger that Magenta the those on milestones driven ones plans, by that you about churn integration we've to customers XX% have the It's are T-Mobile we've their exactly merger churn with achieved the if have plans transitioned, T-Mobile customers it now is would. integration really been of telling And customers all customers. synergies. our think you T-Mobile where Sprint are here device are traffic on some who And about

to XX% thesis shows as us been But lot the work sharing way across. we've of minority isn't X So just we big going exactly is in left we exactly obviously. some lot time. unfolding XX you it that predicted. would. to that that told basis do, a you point There's in XXX%. take That's factor improvement churn brought the whopping driving was And a substantial it quarter, a sequential a unfolding

things but but that finite around One of said us not is bulk insulation kinds which of getting past, as is it backhaul those watch effects. and structure technology and cost variable you're what things from as our to long-term standpoint, here, cost contracts, contracts, X the from talk vast things in our costs costs labor gives some a is and the at structure about somewhat sure over John. I'm insulated. period like we fixed tower a generally Now contracts in I'll are Obviously, inflation known contracts, multiyear actually need sector to relates inflation, we've

answer know lot beyond I out to think inflation. is for society being will stressed have be the Right of about budget. family larger consumer on anxiety can the of now, inflation impact a know. What And we save the question a T-Mobile X customers there's year, our what that switching facing we is T-Mobile. $XXX every is year, from And don't consumers? the year, leader. famous value a of a We postpaid is

up And -- and if ready serve with opportunity leader and course, we'll, value is to us to watch of have happens a here that. the and people as there's do it what more we'll so but a more consumer stand sentiment time, real to as difficult be for

Cusick we'll JPMorgan. go to Phil with Next,

is if I prices promotions. ability you your bit speaking inflation, trying price see your competitiveness see a peers on and there any needed their AT&T over out out little signal time. take off of and higher So talk there. to Maybe backed where to current about versus promotions

remarkably saying has value by envelope time. been start consistent I'll over our leadership of

case case of the so the That in journey. terms has And And of entire value consistently offer multiyear it's consumers. the look postpaid best at you Un-carrier for that extent been the arc, if leadership. about value the been to a we

want always really introducing But we're be promotions. I clear. Now new to

MAX. on to XG allowing self-selecting the how the in customers of just That's can we been our the today strategy. showing company customers buy best for I've very our in of minutes is value And tell see of with with strategy the ago of running to Magenta unfolding time because the our stack are a decade strength best up outlook best in that on of in remarkable they market expression time very that products values here been this an ARPU is cylinders, years network. entire as the first about the best you I've it's Our something and And here, few incredible strategy. the the about us terms was first rising. did And the promotions XX a you for all

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if revenue, can. on more I one Maybe

little of a point in lot worried quarters do runoff about stable It in wholesale those terms relationships talked more How bit a Boost and of revenue down ago. TracFone? couple a of are wholesale like we second those quarter. the at You were seems this the about look than

Mike Yes. I'll let about it. talk

I'll large of a you Katz our But and give see be DISH tell a about very we've with for we what's gone and of happening. that's with forward base finding review First, a for will to I'll diverse DISH and Justice. have you that's say and Mike win-win a a wholesale businesses. a obviously, forward, an productive customers everybody nice path been their maybe they and I continues have But way to with agreement in for as really I quarter let by the reaching all just real ago, know us, we forward some about under and Department context. that path talked

Yes. Thanks, Mike.

said, to we waiting DOJ. well really with DISH. But companies the partnership for in an As has operating if and that couple both approval going this numbers. we as are talked We're about A reached last TracFone place us. agreement roll Mike wind-down quarter. that seeing deal that from we fruition is a been through come agreement is of reached One for quarter things seen the and you've that our you're with

-- which also in extension agreements We a with reached is agreements with And with that's Altice. Google portfolio. large exclusive MVNO scaled new agreement our MVNO a

our So of seeing and a existing companies lot we're in And of portfolio expanded from capabilities. the network in new seeing advantage relationships the and lot and network the MVNO portfolio. interest growth capacity we're the of taking a

portfolio us. a So -- it's strong has really for a wholesale been

will question Citi. Next with the Rollins line from come Michael of

what with share early up first of guess in and seeing on and getting the XXXX? the beginning you may are secondly, side. terms Can under T-Mobile terms the you consider the of guidance wireless provide circumstances reliability which financial I fixed the download-upload for be broadband retention on that are And could an repurchases during customers levels. satisfaction in then what update year, experience the

one We're the we're to first delighted I'll here. and Great. really maybe pile start with Neville ask on what in. seeing

Scores Promoter have Net now Scores which the fantastic really the terrific operating again of now with quarter-over-quarter leading risen see customers. has product been Promoter Net Xx showcase what of XG a we're do. X this can And to a think at million cable company. network is I scale

the nationwide Our medians of that's download really wouldn't most something companies. speeds cable And appreciate. meet people

serve Net is XXX to Scores. Our gigs rising yet with able and average XXX month usage that per Promoter to we're

month. that are XX%-ish tail, or a a using have terabyte We per so,

you in Maybe behind an it see these with color? add driving that and that's any a industry talk so satisfaction. And really can product normative what's about are you would figures Neville,

stats, they're in I Yes. when broadband this you mean look and are we how space. at competing great right, performing

X now, what this And I our million, think X everybody doing X look million, X million. customers experience. million first at we're in-home XG? first said, Well, what the broadband with happens with

to it's this adding coming network And powerhouse We're We're so this adding allows network from getting have. great the to coverage. lot a that say a XG of And can experience. like provide just we and lot just and increasing the on us started we're sheer we horsepower story. off XG of support spectrum. this improving And I

we enjoying this we're it just are getting proud So this about really again, the I'll to product. honest, started be say we super performance And Customers have. are in space.

have an lot new with and come to to expand are a be We And capability. capabilities incredible and going XG performance network in the and on XG continue to spectrum improve. this dedicated of

think our excess a I go-to-market in business based it fascinating Mike, is to our is able homes model. we compete because on know And and across an of plan million offer in you game basic here. capacity What's relatively about even now are this nationwide parts XX plan basis country all this

large this we growing mobile our and to Instead, our normal network look because aren't of the expect And continue at so of usage XG dedicating to algorithms rapidly sums business. strength we capital will grow. rapidly of that's

their find we all forward share. customers and That's pockets the the capacity those and this continue also XG expect to we where mobile extra all We broadband. won't even all take of extra up soak that We approve remarkable model network. home where applicants will for usage

a And of it's interesting because swallow network. that really just have so the that's nature capacity. mobile you And

others. be therefore coverage Our not and some is spectrum is can relatively usage Mobile relatively usage our capacity mobile places But consistent isn't. in consistent. and

competitive. there, well might spectrum. up as You to Once be you're everywhere have your all light you to be

of be still price of go make to large for a the that's so return. a nature able economics the and market with attractively to And swaths this. it the really And it to allows have competitive offer population to and us

Okay; question came in about office the you question. have the had pool lost a on I buybacks. third second

to us tell So what Peter, say. please

business as what have from momentum Mike, us or expressed But shared timing point. generation last you for absolutely. opportunity flow time returns. 'XX free the we gives or of we there's that regards Yes, both said, confidence in a the sets, that of this to we lot with starting and to 'XX potential at the share update no cash that opportunity to the with around you really

with Next, go to New we'll Street. Jonathan Chaplin

cheeky to may. I X, going a in I'm stick if

fixed customers seeing on great So rural. markets us you fixed monetizing and us you who there? guys coming going of much how the some deals? objectives a broadband and could are in wondering you customers in mobile you from a small I'm update share wireless on excess capacity market the T-Mobile taking how pull-through you'll towards you? able wireline if on are that shares your then And you on gave you're mean how with previously for Does with wireless up Could finally, broadband, progressing selling give Or are just then mentioned color from tracking market Mike's business on an you to that on us what's ads And in be follow-up just then on fill question., where context weren't some network the and give wholesale it? new wireline network. have the

Great, in to Jon, about Are Sprint would of okay. cover all you you XXX let's try or don't want hit those that well, sure rapid ask fire. top you the to -- integration because

are and going maybe you fixed small ready customers to Mike, First and what's the about get then And color coming a give markets on there. little rural on can us where us from. wireless, on tell areas Jon

Jonathan. Yes. Thanks,

with we're ago, everywhere. are fixed As really wireless, Mike from because the nationally said deployed coming a customers second

to in providing where choice competitive we are now a cable. XXX You're top seeing customers

we're You're high-speed in the seeing those them Smyrna, oftentimes only communities. wireless in where alternatives

good growth in business. You're seeing

network our growth expansion that So it's the is talked the really across And board. just Neville following about.

more capability, sectors growth. network we with more we expands have and have continue capacity, the to as see we'll So

million good us All customers of that a combined talked to really X to on the million trajectory about in puts XXXX. we X

in I think we're to objective. a good that pacing meet

Entner Great. and what's not has also rural of market customers asking markets Jon only And with But you Roger it kind in get What on going we small also asking been Jonathan Jon, are ready. Callie, is winning? And about business, again areas. share? but about

You bet.

is market our the XX% marketplace. approximately areas, everything of to So just in everybody, smaller markets of XXX outside rural remind U.S. top

of we this share. we at So XX% in started XX% share. market market at finished end at And journey XXXX XXXX the back

in QX the which is areas. short And plan a we in what up established exactly a markets year-over-year basis that's that points new in -- So smaller in order rural we've accounts XX% seen in like areas. you've percentage on and on rural is very expected markets smaller unfolding

Neville expansion, Verizon. So his and for expansion, winning distribution We areas. markets I'm lot still network about what smaller team really the rural and good from formula coverage the markets in opportunity. combination that than geographically perspective, We're done of famous it's XG XG larger AT&T feeling have more of geographical that you have rural coverage that mean amazing When that, XX% we're just than footprint is Xx I the larger and Verizon. a the about think than a bringing our areas and in AT&T, smaller geographically

good what People really doing in need we're feeling we're areas. there. So about choice these

really to is it places with rates going choices. a this competition back bring on think couple today. real these Of What's I've of seeing expected in many and XXXXs times, are about these you couple spaces, when we're of in us And choosing course, just customers in of at we've business? a so when the to trip that it, you said

number All banks a the compliance, their today, on listen, we're security, market you, bold sector. right. of We're run. for T-Mobile tell in rates workforce. momentum when multinational still share to already track. to at for aspiration in And pretty we There's I'll got share hybrid relying strong ourselves be room financial We've expanding on large the XX% for Well, gave XXXX.

performance responder agencies for XXst T-Mobile QX. catalyst join over in a to network is Our

connected Mike for United Magenta As with States BMW. in XG earlier, the Drive launched first our cars we mentioned

in solution TIoT the medical We all of the which seamless monitor uses that access with device sector. around growth DT their connectivity. that a partnership This is allows disruptive public in of also launched Customers over to leading global enterprises was TIoT quarter Biotronic, the ninth XXX,XXX connections a like world. patients to global company consecutive

new is One of our of U.S. customers Department the Treasury.

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already that growth excited we've deliver. about the we above would plan see that So the we we're stated very there potential that

have are about on than remind out you everybody so our you want us interesting to we about. at year to the growth track shared team that on we were based makes growth we much One on is wireline, before investors a our that's us where we just is from underpenetration And of is that asking the with aspirations bold laid up we bet what's are the And track. what opportunity that just are what my down proven rational, made things you I as a ago should plan be we with know Peter and -- heard strategy now that this on as making and very us of ask And that we beginning the areas about on more absolutely reasons objectives. where different all I we growth multiyear joke business. payments articulated have asking of a wrap

beautifully. So sure make we opportunities and is underpenetrated want and already country this we're XX% small XX% tracking have of to grown in to we've share rural I where markets everybody XX% major that reminded areas, from just

segments We have the growing major very part the our us, of marketplace row where a pandemic fastest-growing underpenetrated the in huge just probably huge in us and get we're opportunity a Internet in have Callie of provider. articulated this underpenetrated you We aspirations. now to quarters nation's reminded showed X business, we're multiyear that performance and where wake in present and a those would broadband high-speed

our seekers best who've markets the given look leadership, the serious never we XXX are more a markets a we there hear lead prime top industry network. consumers opportunity. Our also markets. going more Despite and growth they XXX of top people about big want us XXX the And T-Mobile because the in see and you're quality of to the in are trajectory tens top that with talking where millions

this making the of with executing XX one in we're our And strength that sequential whopping one was X a and like adds huge then offer on that, trajectory. phone this the the we And told be is we'd T-Mobile, industry a we quarter. major be a more of we basis would there's that XXX,XXX we finally, Now tailwind. has at you'll you I growth about opportunity years, churning for on a growth integration progress net reductions best Sprint that hearing already said there you churn Sprint like points ever promised Sprint If us integration. seen, biggest that. to quarter-over-quarter, unlock all

that So What about. I make finally, one sure people then opportunities really going you wireline, about? what's want were that's about thing to are on big remind talking the to And see? we What was question there?

Exactly, Yes. Jonathan.

we see wireless does shut on of the from of LTE wind the we yes, the side. when course, create network, as traffic And So that down capacity customer the at the to in right look monetization. serve But a perspective, and down needs. for some traffic the opportunity era XG services, we'll of what's products the create it particularly away, their does all suite with wireline going

other for We'll going rationalize now like are things become routes. potentially traffic that example, quite that valuable And for in wireless there's addresses buildings. things away monetizable us. rationalize we'll IPVX form the So with of, the have

create and of value, at most of So the we'll us. to and opportunities services you expect products the shareholder suite look right would monetization as

Okay. Terrific.

get that up from is million to Bill back real see XG? again for on network. where going? got Ho. Can want XXX And I forecast obviously, in people. go Where we're there coming to questions on It Twitter. to to are game. hear phones, looks like ones XG in expect we Before us we reach we've the about you ultra-capacity what the really that's because out interesting Neville We usually one

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So Brett next, go we'll Sachs. to with Goldman Feldman

what were just is actually of discussing. to this you And follow-up sort guys a

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then can continue they cohort insight you if just what migration what legacy postpaid a benefit has about full of churn projects in completed and network pressure diminished see to Sprint update of we further half your indeed So give item? of And I'm The on bit comments It us an really as And over I cost remainder from that the a how service to be, guess that maybe that the should and the like signal opportunity adds. the we the question line you if sounds make to net second improvements what that as some about point of cost question. associated the made think year. like throughout having second synergy we just headwind would with item your that. T-Mobile. that, a Sprint the would the to in And the the through year? of wondering expect phone profile churn we then as before looks peak it at saw pace excess in the are the that's fully how affected the

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And question, the turn to services. Peter so to your first it specifically of then And fantastic. we'll that's cost on

it scale, you we And are unfold absolutely. seeing promised great cost of on as Yes, just would services. Brett,

still continue QX, sites, As LTE rapid you to rebuild course Sprint build these continue as continue think you we'll Sprint sites, team you'll mentioned to and cost. about this of year and have the shaping, investments in Neville while have as to new

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I'm still so whom we you we'll because many last question, queue, to of we with take apologies get love those the And to really sorry didn't the but operator. in

Certainly. We'll Morgan go Flannery to with next Simon Stanley.

hear So guidance updated great to the adds. on the net

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supply then answer things me chain an Let to and Simon. with with start wrap Neville and up question, your I'll

AT&T's now, I'll quick, our put in in of be we've just at this is with some very trying started, have for on the shape. whereas we And and case. our competition arrangements in to OEMs we're the tower really place our mean advantage, And especially that Simon. we get time I course, based been crews. good

are Obviously, So closely strong. managing we we're very, not very and hands on chain. sitting supply are our we

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of It's than the our and this Customers consistently per businesses We delivering been ever We and a through businesses other then it's businesses are We're been, industry improvement. when to unit the cost we're and every in competitive. years while prices. on for performance relatively that like competitive for are lower beneficiaries. consumers financial the now. now, is it ARPU in promised improvements industry time this driving that's competition. competitiveness actions Right some. exciting And and level rising a so bringing you price without consumers we category has for

you X about I'm don't there. tell people so report, numbers room not that have these going there they questions. We're for I this Is That's healthy nice looks burdened I with to I is. -- quarter And everybody? there it Cables see had that. quarter. to a know. not can think like

can we that has Our telemetry almost delivered at see has you predicting that and But strategy it's growth QX pretty cash shows to X-year aspirations. And that there. comes our growth usually comes integrity what it been like a in and industry you dynamic where just quarter-after-quarter promised safe, we And would. flow all-time reliable, with T-Mobile in healthy a it an high. achieve its good

we healthy role healthy And stewards an And or it's industry. and play a it's like important whether be of industry, going an for as healthy think industry healthy we to industry know industry. we look We at so We it's that's T-Mobile. a not the a look, it.

look in with for after Appreciate to So that you your you really that to more. you. time we appreciate think the have, coming with quarter all discussions. it. got engaging forward Thanks you great quarter And we

Thank T-Mobile concludes quarter for first gentlemen, your the participation. you And call. this ladies and earnings

have and may now disconnect pleasant a You day.