T-Mobile adds 2.4 million customers in first quarter

T-Mobile adds 2.4 million customers in first quarter

Credit: AFP/Getty Images

FILES - Picture taken on March 3, 2009 shows visitors walking past Deutsche Telekom logo at the German telecommunications giant's stand at the world's biggest high-tech fair, the CeBIT, in Hanover. German telecommunications operator Deutsche Telekom suffered a first-quarter loss of 1.12 billion euros (1.49 billion dollars) owing to a devaluation of its British T-Mobile unit, the company said on May 7, 2009. AFP PHOTO JOHN MACDOUGALL (Photo credit should read JOHN MACDOUGALL/AFP/Getty Images)

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by Nancy Blair, USA TODAY

KING5.com

Posted on May 1, 2014 at 8:03 AM

Updated Thursday, May 1 at 8:03 AM

SAN FRANCISCO — T-Mobile on Thursday said its pricing moves helped it add 2.4 million customers in the first quarter, up from 579,000 a year earlier.

The company's earnings report, released before the markets opened, pushed its stock up more than 9% in morning trading.

For a year now, T-Mobile has been on a campaign of aggressive customer discounts and promotions.

Most recently, CEO John Legere in April announced a new $40 entry-level monthly pricing plan aimed at "value" customers and followed up a day later with an offering of LTE tablets, including iPads, at the Wi-Fi-only price. It also said existing postpaid voice customers who buy the tablets could add nearly 1.2 GB of data per month for free until the end of 2014.

The company's net income fell to a loss of $151 million in the quarter, or 19 cents a share, from a profit of $107 million, or 20 cents a share, a year earlier.

On a conference call with analysts, Legere said the customer growth was the result of reducing "pain points."

"A year ago I promised that we would bring change to what I called this arrogant U.S. wireless industry. We are delivering on that promise," he said in a statement announcing the earnings.

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