Shares of T-Mobile (NASDAQ: TMUS) fell in pre-market trading on Wednesday after the telecom giant’s Q4 revenues of $20.2 billion saw a decline of 2.5% year-over-year and missed estimates by $390 million.
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Earnings per share came in at $1.18, which beat analysts’ consensus estimate of $1.07 per share.
The company reported a record high of postpaid net account additions of 314,000 and 1.4 million in Q4 and FY22, respectively while its service revenues reached another record high of $15.5 billion in Q4.
Looking forward, management now expects FY23 core adjusted EBITDA to grow at 10% at the mid-point and range between $28.7 billion and $29.2 billion while free cash flow is projected to increase by around 75% at the mid-point and range from $13.1 billion to $13.6 billion.
Overall, Wall Street analysts remain bullish about TMUS stock with a Strong Buy consensus rating based on 13 Buys and one Hold.