T-Mobile stock climbed as it added more postpaid wireless phone subscribers than expected.
T-Mobile said it added 773,000 postpaid phone subscribers vs. 452,000 a year earlier. Analysts had estimated 497,000 postpaid phone subscriber additions.
Analysts say T-Mobile earnings growth is tied to merger synergies with Sprint. In addition, the company holds an edge in 5G wireless spectrum over Verizon Communications (VZ) and AT&T (T).