Why T-Mobile Stock Jumped on Wednesday
Shares of wireless carrier company T-Mobile (NASDAQ: TMUS) jumped on Wednesday, rising as much as 4.7%. As of noon ET, however, the stock was up about 3.5%.
The telecom stock's gain came following T-Mobile's second-quarter earnings report this morning. Though the quarterly update featured a top and bottom line that both missed analysts' consensus forecasts, subscriber additions were strong. In addition, the company raised its full-year outlook for subscriber growth.
T-Mobile added 1.7 million postpaid net customers during Q2, the company said in its earnings release Wednesday morning. Not only was this the company's best second-quarter postpaid subscriber growth ever but the net additions were more than AT&T and Verizon's Q2 additions combined, management explained.
Source Fool.com
