T-Mobile Delivers Continued Durable Postpaid Account and ARPA Growth, Translating to Best-in-Class Financial Growth, Raises Guidance

Q1 Is Yet Another Proof Point That the Un-carrier's Winning Formula of Best Network, Best Value and Best Experiences Drives New and Deepening Customer Relationships, Translating to Outsized Financial Results

T-Mobile US, Inc. (NASDAQ:TMUS):

Accelerating Account Growth and Deepening Customer Relationships Fueled by Widening Differentiation

• Postpaid net account additions of 217 thousand, grew 6% year-over-year
• Postpaid Average Revenue Per Account ("ARPA") of $151.93 grew 3.9% year-over-year

Translating Strong Account Growth into Durable and Profitable Financial Growth⁽¹⁾

• Service revenues of $18.8 billion grew 11% year-over-year, industry-leading growth
• Postpaid service revenues of $15.6 billion grew 15% year-over-year, industry-leading growth
• Net income of $2.5 billion decreased 15% year-over-year and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $476 million
• Diluted earnings per share ("EPS") of $2.27 decreased 12% year-over-year and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $0.43
• Core Adjusted EBITDA⁽²⁾ of $9.2 billion grew 12% year-over-year, industry-leading growth
• Net cash provided by operating activities of $7.2 billion grew 5% year-over-year, industry-leading growth
• Adjusted Free Cash Flow⁽²⁾ of $4.6 billion grew 5% year-over-year, industry-leading growth

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• A record share of recent switchers to T-Mobile say they made their choice primarily due to network quality, proof that improving network perception is driving network seekers to the Un-carrier⁽³⁾
• Fastest provider in Fixed Wireless Home Internet with median download speeds over 50% faster than next closest peer, based on T-Mobile's analysis of Ookla data⁽⁴⁾
• As an initial step for T-Mobile to support the broader evolution of physical AI, Figure AI's F03 humanoid robots in production are designed to connect to T-Mobile's 5G Advanced network

T-Mobile US, Inc. (NASDAQ:TMUS) reported first quarter 2026 results today, delivering accelerating postpaid net account growth and strong postpaid ARPA growth. The company's strong customer relationship results contributed to industry-best service revenue growth, including postpaid service revenue growth, strong net income, industry-leading Core Adjusted EBITDA growth, and industry-leading cash flow growth, while fueling stockholder returns of $6.0 billion.

"Q1 marked a strong start to the year as we continue to execute against our ambitious 2026 and 2027 targets, representing yet another proof point of our winning formula and unique differentiation," said Srini Gopalan, CEO of T-Mobile. "We reported accelerating postpaid net account growth and strong postpaid ARPA growth, reflecting this team's differentiated ability to not only attract new customer relationships but also deepen the engagement with our existing base. This drove the outsized results you see, including industry-leading financial growth. We're more confident than ever in our strategy and the opportunities ahead of us, supported by the industry's best growth portfolio in core wireless, broadband, and smart adjacencies. The best truly lies ahead of us."

Accelerating Account Growth and Deepening Customer Relationships Fueled by Widening Differentiation

• Postpaid net account additions of 217 thousand increased 12 thousand, or 6%, year-over-year. Postpaid account churn of 1.04%.
• Postpaid ARPA of $151.93 grew 3.9% year-over-year.

Translating Strong Account Growth into Durable and Profitable Financial Growth⁽¹⁾

• Total service revenues increased 11% year-over-year to $18.8 billion, and Postpaid service revenues increased 15% year-over-year to $15.6 billion.
• Net income decreased 15% year-over-year to $2.5 billion and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $476 million.
• Diluted EPS decreased 12% year-over-year to $2.27 per share and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $0.43.
• Core Adjusted EBITDA increased 12% year-over-year to $9.2 billion.
• Net cash provided by operating activities increased 5% year-over-year to $7.2 billion.
• Cash purchases of property and equipment, including capitalized interest increased 7% year-over-year to $2.6 billion.
• Adjusted Free Cash Flow increased 5% year-over-year to $4.6 billion.
• Stockholder Returns of $6.0 billion in Q1 2026, including common stock repurchases of $4.9 billion and cash dividends of $1.1 billion as part of the then-current stockholder return authorization of up to $14.6 billion in 2026, for cumulative stockholder returns⁽²⁾ of $51.4 billion since program inception, split across repurchases of $42.1 billion and cash dividends of $9.3 billion. On April 23, 2026, the company announced that the Board of Directors has increased the company's 2026 stockholder return authorization to up to $18.2 billion, representing an increase of up to $3.6 billion from its prior 2026 authorization.

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• A record share of recent switchers to T-Mobile say they made their choice primarily due to network quality, proof that improving network perception is driving network seekers to the Un-carrier
• Fastest provider in Fixed Wireless Home Internet with median download speeds over 50% faster than next closest peer, based on T-Mobile's analysis of Ookla data
• As an initial step for T-Mobile to support the broader evolution of physical AI, Figure AI's F03 humanoid robots in production are designed to connect to T-Mobile's 5G Advanced network

Raising 2026 Account and Financial Guidance

• Postpaid net account additions are expected to be between 950 thousand and 1.05 million, an increase from prior guidance of 900 thousand to 1.0 million.
• Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $37.1 billion and $37.5 billion, an increase at the midpoint from prior guidance of $37.0 billion to $37.5 billion.
• Net cash provided by operating activities, including net payments for UScellular merger-related costs, is expected to be between $28.1 billion and $28.7 billion, an increase at the midpoint from prior guidance of $28.0 billion to $28.7 billion.
• Continues to expect cash purchases of property and equipment, including capitalized interest, to be approximately $10.0 billion.
• Adjusted Free Cash Flow, including net payments for UScellular merger-related costs, is expected to be between $18.1 billion and $18.7 billion, an increase at the midpoint from prior guidance of $18.0 billion to $18.7 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.

Financial Results

For more details on T-Mobile's Q1 2026 financial results, including the Investor Factbook with detailed financial tables, please visit T-Mobile US, Inc.'s Investor Relations website at https://investor.t-mobile.com.

Earnings Call Information

Date/Time

• Tuesday, April 28, 2026, at 4:30 p.m. (EDT)

Pre-registration link for dial-in access and personalized PIN

Participants can pre-register for the conference call here in order to receive dial-in information and a personalized PIN. This option is recommended to avoid wait times when joining the call.

Access via Phone (audio only)

Please plan on accessing the call 10 minutes prior to the scheduled start time.

• Toll Free: 1-844-539-1320
• International: 1-412-652-1263

Access via Webcast

The earnings call will be broadcasted live and can be replayed via the Investor Relations website at https://investor.t-mobile.com.

Submit Questions via X

Send a post to @TMobileIR or @SriniGopalan using $TMUS.

Contact Information

• Media Relations: mediarelations@t-mobile.com
• Investor Relations: investor.relations@t-mobile.com

T-Mobile Social Media

Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (https://investor.t-mobile.com), newsroom website (https://t-mobile.com/news), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD (the @TMobileIR X account (https://x.com/TMobileIR), the @SriniGopalan X account (https://x.com/SriniGopalan) and our CEO's LinkedIn account (https://www.linkedin.com/in/srini-gopalan/), both of which Mr. Gopalan also uses as a means for personal communications and observations, and the @TMobileCFO X account (https://x.com/tmobilecfo), and our CFO's LinkedIn account (https://www.linkedin.com/in/peter-osvaldik-3887394), both of which Mr. Osvaldik also uses as a means for personal communications and observations). The information we post through these social media channels may be deemed material. Accordingly, investors should monitor these social media channels in addition to following our press releases, SEC filings and public conference calls and webcasts. The social media channels that we intend to use as a means of disclosing the information described above may be updated from time to time as listed on our investor relations website.

About T-Mobile US, Inc.

As the supercharged Un-carrier, T-Mobile US, Inc. (NASDAQ:TMUS) is powered by an award-winning 5G network that connects more people, in more places, than ever before. With T-Mobile's unique value proposition of best network, best value and best experiences, the Un-carrier is redefining connectivity and fueling competition while continuing to drive the next wave of innovation in wireless and beyond. Headquartered in Bellevue, Wash., T-Mobile provides services through its subsidiaries and operates its flagship brands, T-Mobile, Metro by T-Mobile and Mint Mobile. For more information, visit https://www.t-mobile.com.

Forward-Looking Statements

This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including information concerning T-Mobile US, Inc.'s future results of operations, are forward-looking statements. These forward-looking statements are generally identified by the words "anticipate," "believe," "estimate," "expect," "intend," "may," "could" or similar expressions.

Forward-looking statements are based on current expectations and assumptions, which are subject to risks and uncertainties and may cause actual results to differ materially from the forward-looking statements. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: competition, industry consolidation and changes in the market for wireless communications services and other forms of connectivity; cyberattacks, disruptions, data loss or other security breaches; our inability to adopt and deploy network technologies in a timely and effective manner; our inability to effectively execute our digital initiatives and drive customer and employee adoption of emerging technologies; our inability to retain or motivate key personnel, hire qualified personnel or maintain our corporate culture; system failures and business disruptions, allowing for unauthorized use of or interference with our network and other systems; the scarcity and cost of additional wireless spectrum, and regulations relating to spectrum use; the timing and effects of any pending and future acquisition, investment, joint venture, merger or divestiture involving us, including our inability to obtain any required regulatory approval necessary to consummate any such transactions or to achieve the expected benefits of such transactions; adverse economic, political or market conditions in the U.S. and international markets, including changes resulting from increases in oil prices, inflation or interest rates, tariffs and trade restrictions, supply chain disruptions, fluctuations in global currencies, immigration policies, and impacts of geopolitical instability, such as global conflict, wars and further escalations thereof; operational delays, higher procurement costs, such as memory chip cost impacts on smartphones, and operational costs, and increased regulatory and compliance complexities, for example, as a result of changes to trade policies, including higher tariffs, restrictions and other economic disincentives to trade; our inability to successfully deliver new products and services; any failure or inability of our third parties (including key suppliers) to provide products or services for the operation of our business; sociopolitical volatility and polarization and risks related to environmental, social and governance matters; our substantial level of indebtedness and our inability to service our debt obligations in accordance with their terms; changes in the credit market conditions, credit rating downgrades or an inability to access debt markets; our inability to maintain effective internal control over financial reporting; compliance with the current regulatory framework, including our national security obligations, and any changes in regulations or in the regulatory framework under which we operate; laws and regulations relating to the handling of privacy, data protection and artificial intelligence; unfavorable outcomes of and increased costs from existing or future regulatory or legal proceedings; difficulties in protecting our intellectual property rights or if we infringe on the intellectual property rights of others; our offering of regulated financial services products and exposure to a wide variety of state and federal regulations; new or amended tax laws or regulations or administrative interpretations and judicial decisions affecting the scope or application of tax laws or regulations; our wireless licenses, including those controlled through leasing agreements, are subject to renewal and may be revoked; our exclusive forum provision as provided in our Certificate of Incorporation; interests of Deutsche Telekom AG ("DT"), our controlling stockholder, which may differ from the interests of other stockholders; our current and future stockholder return programs may not be fully utilized, and our share repurchases and dividend payments pursuant thereto may fail to have the desired impact on stockholder value; future sales of our common stock by DT and our inability to attract additional equity financing outside the United States due to foreign ownership limitations by the Federal Communications Commission; and other risks as disclosed in our most recent annual report on Form 10-K, and subsequent Forms 10-Q and other filings with the Securities and Exchange Commission. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward- looking statements, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260427451010/en/

Media Relations: mediarelations@t-mobile.com

Investor Relations: investor.relations@t-mobile.com