Key Takeaways T-Mobile shares fell 4.2% in premarket hours to $183 following a Q2 revenue shortfall Quarterly revenue climbed 7.9% annually to $22.8 billion but missed the $22.9 billion Stree
Shares of T-Mobile declined approximately 4.2% during Thursday’s premarket session, trading at $183, as the wireless giant reported second-quarter revenue below Wall Street’s expectations despite surpassing earnings projections.
The telecommunications company generated $22.8 billion in quarterly revenue, representing a 7.9% increase from the prior year but falling marginally short of the $22.9 billion analyst consensus. However, adjusted earnings per share of $2.99 handily surpassed expectations of $2.54.
Despite the impressive earnings performance, the revenue shortfall was sufficient to pressure shares lower. The strong bottom-line results weren’t enough to overcome top-line concerns.
T-MOBILE $TMUS Q2’26 EARNINGS HIGHLIGHTS
Revenue: $22.79B (Est. $22.94B)
; +5% YoY
Results included $146M, or $0.14/share, of UScellular merger-related costs
Customer Metrics:… pic.twitter.com/oxV3PS0D86
— Wall St Engine (@wallstengine) July 23, 2026
Service revenue expanded 9% on a year-over-year basis to reach $19.0 billion. Within that segment, postpaid service revenue jumped 13% to $15.9 billion.
Core adjusted EBITDA increased 12% from the previous year to $9.5 billion. Meanwhile, adjusted free cash flow totaled $4.8 billion for the quarter, reflecting a 4% uptick.
The carrier reported 277,000 net postpaid account additions during the three-month period. While this represented a 13% year-over-year decline, it still managed to slightly exceed Wall Street’s projection of 268,300 additions.
Postpaid average revenue per account increased 2% annually to $152.91, demonstrating continued improvement in customer monetization metrics.
T-Mobile lifted its full-year adjusted free cash flow projection to a range of $18.4–$18.8 billion, representing an increase from the previous guidance of $18.1–$18.7 billion.
The company also elevated its net cash from operating activities forecast to $28.4–$28.8 billion, compared to the earlier range of $28.1–$28.7 billion.
Management emphasized that the revised guidance excludes any significant net cash inflows from securitization activities.
T-Mobile maintained its full-year expectations for postpaid net account additions between 950,000 and 1.05 million, along with core adjusted EBITDA targets of $37.1–$37.5 billion.
Capital expenditure projections remain unchanged at approximately $10 billion for the fiscal year.
T-Mobile represents the second of America’s three leading wireless providers to announce quarterly results. AT&T similarly exceeded earnings expectations while falling short on revenue.
Verizon is scheduled to release its earnings report before the market opens on Friday.
T-Mobile reaffirmed its annual postpaid account addition forecast of 950,000 to 1.05 million, maintaining confidence in its subscriber growth trajectory.
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