Jan 07, 2021 (Baystreet.ca via COMTEX) -- T-Mobile US, Inc. /zigman2/quotes/204659678/composite TMUS -2.95% reported postpaid net additions of 5.5 million for the full-year 2020. The company also reported preliminary net additions of 1.6 million in the fourth quarter.
In the fourth quarter, T-Mobile is expected to lead the industry again across several key metrics with 1.7 million total net additions, 1.6 million postpaid net additions, and 824,000 postpaid phone net additions.
T-Mobile further expanded its 5G network leadership, now reaching 280 million people and covering 106 million people with Ultra Capacity 5G's super-fast speeds enabled by mid-band (2.5 GHz) and millimeter wave spectrum.
The 106 million surpassed the company's aggressive goal to cover 100 million Americans by the end of 2020 and compared to an estimated 2 million people covered by Verizon's Ultra Wideband 5G, showcasing T-Mobile's dramatic lead in the 5G race.
"Our focus on bringing unmatched value and experience to customers while building and delivering the nation's best 5G network paid off with record-breaking results in 2020 (5.5 million new postpaid customers!) - and we continue to be the growth leader in wireless," said CEO Mike Sievert.
"Our 5G leadership position is getting stronger every day. We set some huge goals in 2020 that some thought were impossible, but we smashed them. Today, T-Mobile's high speed Ultra Capacity 5G covers over 50 times more people than Verizon and it's growing. We continue to demonstrate that we are way ahead of the competition on 5G and poised to become the country's overall network leader."
TMUS shares took on $2.12, or 1.6%, to $133.65.
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