T-Mobile beats first-quarter postpaid subscriber estimates

(Reuters) – T-Mobile US Inc added more monthly bill paying phone subscribers than expected in the first quarter, benefiting from customers becoming more price sensitive as unemployment in the United States surges during the COVID-19 pandemic.

It added 452,000 net new monthly paying phone subscribers in the first quarter ended March 31, above analysts’ estimates of 426,000 from research firm FactSet.

The company, which is posting its first earnings after merging with Sprint Corp, reported a marginal rise in revenue to $11.1 billion, compared with last year.

(Reporting by Anirban Sen and Neha Malara in Bengaluru and Arriana McLymore in Raleigh, North Carolina; Editing by Saumyadeb Chakrabarty)