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Jun 30
T-Mobile Q2 2025 Earnings Report
T-Mobile reported its Q2 2025 earnings, achieving record customer and financial growth, and subsequently raised its full-year 2025 guidance.
Key Takeaways
T-Mobile delivered its best-ever Q2 performance in total postpaid and postpaid phone net customer additions, alongside industry-leading postpaid net account additions and 5G broadband net customer additions. This strong customer growth translated into industry-best service revenue growth, record net income, and robust Adjusted Free Cash Flow, reinforcing its position as a network leader.
Achieved best-ever Q2 postpaid net customer additions of 1.7 million and postpaid phone net customer additions of 830 thousand.
Reported highest-ever net income of $3.2 billion, a 10% year-over-year increase.
Service revenues grew 6% year-over-year to $17.4 billion, with postpaid service revenues increasing 9% year-over-year to $14.1 billion.
Raised full-year 2025 guidance for postpaid net customer additions, Core Adjusted EBITDA, net cash provided by operating activities, and Adjusted Free Cash Flow.
T-Mobile
T-Mobile
T-Mobile Revenue by Segment
T-Mobile Revenue by Geographic Location
Revenue by Segment
Total Service Revenues Revenue
CapyFin.comPostpaid Service Revenues Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.com Forward Guidance
T-Mobile raised its full-year 2025 guidance across key customer and financial metrics, reflecting strong performance and the expected inclusion of Metronet.
Positive Outlook
- Increased postpaid net customer additions guidance to 6.1 million - 6.4 million (up from 5.5 million - 6.0 million).
- Increased Core Adjusted EBITDA guidance to $33.3 billion - $33.7 billion (midpoint increase of $50 million).
- Increased net cash provided by operating activities guidance to $27.1 billion - $27.5 billion (midpoint increase of $50 million).
- Increased Adjusted Free Cash Flow guidance to $17.6 billion - $18.0 billion (midpoint increase of $50 million).
- Expected inclusion of Metronet acquisition, adding approximately 100 thousand Fiber net customers.
Challenges Ahead
- Capital expenditures guidance remains unchanged at approximately $9.5 billion.
- Does not assume any material net cash inflows from securitization for Adjusted Free Cash Flow guidance.
- Net income forecast is not provided due to high variability and difficulty in prediction.
- Core Adjusted EBITDA should not be used to predict Net income as the difference is variable.
- Guidance excludes the pending acquisition of UScellular.