T-Mobile’s profit beats expectations as customer count improves

T-Mobile US reported a profit that exceeded analysts' estimates as the third largest U.S. wireless carrier posted a seventh straight quarter of adding more than a million new monthly users with features like free video streaming and mobile data rollover.

First-quarter net income was $479 million. On a per share basis, the earnings amounted to 56 cents, the company said.

Sales of $8.6 billion compared with the $8.43 billion average estimate.

Surprisingly strong profit and subscriber gains adds further proof that chief executive officer John Legere’s strategy is working by luring subscribers from rivals by focusing on social media marketing and free video streaming promotions like Binge On without hurting the bottom line in a price war.

The company raised its forecast for new subscribers this year to 3.2 million to 3.6 million from a February prediction of 2.4 million to 3.4 million.

This story was originally published April 26, 2016 at 12:31 PM with the headline "T-Mobile’s profit beats expectations as customer count improves."