T-Mobile USEPS of -$0.09, revenue of $19.7B misses by $380M
T-Mobile US press release (NASDAQ:TMUS): Q2 EPS of -$0.09 may not be comparable to consensus of $0.37.
Revenue of $19.7B (-1.5% Y/Y)  misses by $380M.
Service revenues of $15.3 billion grew 6% year-over-year, including industry-leading Postpaid service revenue growth of 9% and best postpaid phone ARPU growth in more than 5 years

Postpaid net account additions of 380 thousand increased 32 thousand year-over-year.
Postpaid net customer additions of 1.7 million increased 380 thousand year-over-year.
Postpaid phone net customer additions of 723 thousand increased 96 thousand year-over-year, including higher gross additions and industry-leading churn improvement. Postpaid phone churn of 0.80% improved 7 basis points year-over-year and 13 basis points sequentially.
Prepaid net customer additions of 146 thousand increased 70 thousand year-over-year. Prepaid churn of 2.58% was the lowest in company history and improved by 4 basis points year-over-year.
High Speed Internet net customer additions of 560 thousand were a record-high, and T-Mobile ended the quarter with more than 1.5 million High Speed Internet customers.
Total net customer additions of 1.8 million increased 450 thousand year-over-year and the total customer count increased to a record-high of 110 million.
Based on the continued strength of execution, T-Mobile is raising its merger synergies guidance range to $5.4 to $5.6 billion in 2022, up from the previous range of $5.2 to $5.4 billion.
Approximately $2.3 billion to $2.4 billion of selling, general and administrative (SG&A) expense reductions
Approximately $1.8 billion to $1.9 billion of network synergies achieved through cost of service expense reductions
Approximately $1.3 billion of network synergies related to avoided site builds
Postpaid net customer additions are expected to be between 6.0 million and 6.3 million, an increase from prior guidance of 5.3 to 5.8 million.
Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $26.0 billion and $26.3 billion, an increase from prior guidance of $25.8 to $26.2 billion.
Merger-related costs are expected to be between $4.7 billion and $5.0 billion before taxes. These costs are excluded from Core Adjusted EBITDA but will impact Net income, Net cash provided from operating activities and Free Cash Flow.
Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $16.0 billion and $16.3 billion, an increase from prior guidance of $15.7 to $16.1 billion.
Cash purchases of property and equipment, including capitalized interest, are expected to be between $13.5 billion to $13.7 billion, an increase from the prior guidance of $13.2 to $13.5 billion as T-Mobile continues its accelerated build-out of its nationwide 5G network.
Free Cash Flow, including payments for Merger-related costs, is expected to be between $7.3 billion and $7.6 billion, an increase from prior guidance of $7.2 to $7.6 billion. Free Cash Flow guidance does not assume any material net cash inflows from securitization.