Revenue for the first quarter landed at $4.68 billion, down 7 percent year over year. Adjusted earnings were $1.2 billion, up 12.4 percent from the fourth quarter, but down 7.5 percent from last year.
"Our first quarter operating metrics and financial results are showing positive impact from the changes we began making in the fourth quarter," T-Mobile CEO John Legere said in a statement. "We ended the quarter with strong operational momentum, which is continuing into the second quarter, driven by the successful launch of our Un-carrier 'Simple Choice' service plan and the introduction of the iPhone into our device line-up."
T-Mobile now has 34 million customers, adding 579,000 over the quarter. Its churn rate - or the number of customers it lost - was at 1.9 percent, which T-Mobile said was its lowest since the second quarter of 2008.
T-Mobile made a number of changes over the quarter in order to attract and retain those customers. Chief among them was its switch to the "un-carrier" approach, which saw T-Mobile ditch monthly contracts. It also added the iPhone to its smartphone lineup, andlaunched its 4G LTE network.
T-Mobile also announced last week that its merger with MetroPCS was finally complete. T-Mobile and MetroPCS will continue operating as separate brands, though they will migrate to a common network infrastructure and similar support functions.
"Things only get more exciting from here, having brought T-Mobile USA and MetroPCS together to create the wireless industry's value leader and premier challenger," Legere said.
How does T-Mobile's new 4G LTE network stack up? We'll have more on PCMag's Fastest Mobile Networks 2013. Drivers are on the road across the country right now testing the top four wireless carriers; keep up with their travels via @PCMPhones. Also, see T-Mobile Cuts the Bulls**t, But Can it Win Customers?
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