$TMUS · T-Mobile US, Inc.
T-Mobile US filed its 10-Q for Q3 2026, reporting net income of $3.455B ($3.22 diluted EPS) on total revenues of $23.584B, up 7.4% YoY. Operating income rose 25% to $5.661B with a 24.0% operating margin. The company repurchased $9.56B in stock over nine months and declared a $1.17/share quarterly dividend.
- Q3 net income rose 27% YoY to $3.455B, with diluted EPS of $3.22 vs $2.41 a year ago.
- Total revenues grew 7.4% YoY to $23.584B, driven by postpaid revenue up 9% to $16.269B.
- Operating income jumped 25% YoY to $5.661B; operating margin reached 24.0%.
- Company repurchased $9.56B of common stock in the first nine months of 2026, retiring 48.4M shares.
- T-Mobile shifted away from reporting customer counts, now focusing on postpaid accounts as its primary performance metric.
Extended-hours trading shows TMUS at $148.01, down 0.25% from the regular close of $148.38 — a muted reaction suggesting the strong results were largely priced in for this $159B market-cap name.
T-Mobile's 27% net income surge and aggressive $9.56B buyback program underscore its position as the most profitable growth engine in U.S. wireless, even as it quietly pivots performance metrics away from subscriber counts.
T-Mobile's 7.4% revenue growth and 25% operating income expansion outpace the broader wireless industry, where Verizon and AT&T face slower postpaid growth. The shift from customer counts to account-level metrics mirrors an industry-wide pivot toward ARPU quality over subscriber quantity.
Prepaid revenues declined 8% YoY to $2.427B, continuing a multi-quarter erosion trend. The company is evaluating additional retail restructuring activities with potential charges dependent on counterparty negotiations. The obligor group (T-Mobile USA/Sprint Capital) reported a $7.79B net loss for the nine months, highlighting structural leverage at subsidiary level.