T-Mobile (TMUS) Q3 2023 Financial Results Summary
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T-Mobile US, Inc. (TMUS) Q3 2025 Financial Results Summary
Released on October 23, 2025, T-Mobile US, Inc. has reported its financial results for the third quarter of 2025. The report highlights record customer growth alongside durable and profitable financial metrics.
Key Highlights:
Customer Growth
- Total Postpaid Net Customer Additions: 2.3 million
- Year-over-Year Growth: Increased by 772,000.
- Postpaid Phone Net Customer Additions: 1.0 million
- Year-over-Year Growth: Increased by 142,000.
- Postpaid Phone Churn: 0.89%, a 3 basis points increase year-over-year.
- Postpaid Net Account Additions: 396,000
- Year-over-Year Growth: Increased by 81,000 (26% increase).
- Total Broadband Net Customer Additions: 560,000
- Year-over-Year Growth: Increased by 142,000 (34% increase).
- 5G Broadband Net Customer Additions: 506,000
- Year-over-Year Growth: Increased by 91,000 (22% increase).
- Fiber Net Customer Additions: 54,000.
Financial Performance
- Service Revenues: $18.2 billion
- Year-over-Year Growth: Grew by 9%.
- Postpaid Service Revenues: $14.9 billion
- Year-over-Year Growth: Grew by 12%.
- Net Income: $2.7 billion
- Year-over-Year Decrease: Down 15.8%.
- Diluted Earnings Per Share (EPS): $2.41
- Year-over-Year Decrease: Down 15.1%.
- Core Adjusted EBITDA: $8.7 billion
- Year-over-Year Growth: Increased by 6%.
- Net Cash Provided by Operating Activities: $7.5 billion
- Year-over-Year Growth: Grew by 21%.
- Adjusted Free Cash Flow: $4.8 billion.
Stockholder Returns
- Total Stockholder Returns in Q3 2025: $3.5 billion
- Common Stock Repurchases: $2.5 billion.
- Cash Dividends: $987 million which is part of a current stockholder return authorization of up to $14.0 billion.
Network Performance and Leadership
- Industry Recognition:
- Received accolades as the 5G Global Winner in 5G Coverage Experience and Reliability.
- Ranked as the #1 FWA Carrier for Consistent Quality.
- Fixed Wireless Home Internet:
- Achieved median download speeds nearly 50% faster than closest peers.
- iPhone 17 Performance:
- Boasted median download speeds nearly 90% faster than a benchmark competitor.
Future Guidance
- Postpaid Net Customer Additions (2025): Expected to be between 7.2 million and 7.4 million, up from prior guidance of 6.1 million to 6.4 million.
- Core Adjusted EBITDA Guidance: Adjusted upward to between $33.7 billion and $33.9 billion.
- Net Cash Provided by Operating Activities Guidance: Expected to be between $27.8 billion and $28.0 billion.
- Adjusted Free Cash Flow Guidance: Expected to be between $17.8 billion and $18.0 billion.
Conclusion
T-Mobile’s results reflect robust growth across customer segments and service revenues, despite a slight decrease in net income and EPS compared to the previous year. The company remains focused on customer-centric strategies aimed at maintaining its market-leading position, while also providing substantial returns to shareholders.
Condensed Consolidated Statements of Income (in millions)
| Q3 2025 | Q2 2025 | Q3 2024 | Nine Months Ended September 30, 2025 | Nine Months Ended September 30, 2024 | |
|---|---|---|---|---|---|
| Total service revenues | $18,204 | $17,396 | $16,707 | $52,640 | $49,253 |
| Postpaid service revenues | $14,852 | $14,041 | $13,276 | $42,553 | $38,770 |
| Total revenues | $21,930 | $21,145 | $20,140 | $63,909 | $59,547 |
| Net income | $2,714 | $3,222 | $3,059 | $8,889 | $8,358 |
| Diluted EPS | $2.41 | $2.84 | $2.61 | $7.82 | $7.10 |
| Adjusted EBITDA | $8,684 | $8,547 | $8,243 | $25,439 | $23,907 |
| Core Adjusted EBITDA | $8,680 | $8,541 | $8,222 | $25,438 | $23,858 |
| Net cash provided by operating activities | $7,457 | $6,992 | $6,139 | $21,249 | $16,735 |
| Cash purchases of property and equipment (including capitalized interest) | $2,639 | $2,396 | $1,961 | $7,486 | $6,628 |
| Adjusted Free Cash Flow | $4,818 | $4,596 | $5,162 | $13,853 | $12,945 |
Condensed Consolidated Balance Sheets (in millions)
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| Cash and cash equivalents | $5,235 | $3,765 |
| Accounts receivable | $3,433 | $3,092 |
| Inventory | $918 | $823 |
| Total current assets | $10,586 | $8,680 |
| Property and equipment, net | $45,104 | $44,507 |
| Total assets | $57,398 | $52,342 |
| Current portion of long-term debt | $1,297 | $1,237 |
| Total liabilities | $34,054 | $31,125 |
| Total stockholders’ equity | $23,344 | $21,217 |