Business

Profits surge for T-Mobile as company adds 2.1 million customers

T-Mobile US Inc.’s fourth-quarter profit nearly tripled, topping Wall Street expectations as the company added 2.1 million customers during the period.

The nation’s third-largest wireless carrier, just ahead of Overland Park-based Sprint Corp., reported a profit of $297 million, or 34 cents per share. Revenue rose 1.1 percent to $8.25 billion.

The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The 2.1 million customers added during the quarter bring its customer count to more than 63 million. The wireless carrier said it was the 11th consecutive quarter that it added more than 1 million new customers.

For the year, the company reported a profit of $733 million, or 82 cents per share. Revenue was reported as $32.05 billion.

Chief executive officer John Legere has been able to lure subscribers from rivals by focusing on feature offers and lower prices at a time when the wireless market has become saturated.

One of its popular promotions is Binge On, which lets users watch videos from selected partners without that counting against their data allotment. While it’s a tool to continue attracting customers, it has also caught the attention of regulators who oversee net neutrality guidelines that require all traffic to be treated equally.

The company predicted 2.4 million to 3.4 million new subscribers for this year after adding 1.3 million in the fourth quarter. Analysts predict 3.28 million on average.

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