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T-Mobile US Inc (NASDAQ: TMUS) traded higher by 3.9% on Wednesday after the company reported a first-quarter earnings beat and impressive subscriber growth numbers.
For the first quarter, T-Mobile reported adjusted EPS of 74 cents on revenue of $19.8 billion. Both numbers beat consensus analyst estimates of 57 cents and $18.9 billion, respectively. Revenue was up 77.8% from a year ago.
T-Mobile said it added 1.2 million net postpaid subscribers in the first quarter, exceeding Wall Street estimates of less than 1.1 million. T-Mobile’s subscriber growth in the quarter significantly outpaced top competitors
Verizon Communications Inc. (NYSE: VZ) and
AT&T Inc. (NYSE: T).
Looking ahead, T-Mobile guided for 2021 postpaid subscriber growth of between 4.4 million and 4.9 million subscribers, up from its previous guidance range of between 4 million and 4.7 million subscribers. Management also said it is expecting average revenue per user to grow this year as well.
Operator
Good morning, and welcome to the QTS Realty Trust First Quarter 2021 Earnings Conference Call. [Operator Instructions]
I would now like to turn the conference over to Stephen Douglas, Head of Investor Relations at QTS. Please go ahead, sir.
Stephen Douglas
Executive Vice President of Finance
Thank you, operator. Hello, everyone, and welcome to QTS First Quarter 2021 Earnings Conference Call. I m Stephen Douglas, Head of Investor Relations at QTS, and I m joined today by Chad Williams, our Chairman and Chief Executive Officer; and Jeff Berson, our Chief Financial Officer. We also are joined by additional members of our executive team who will participate in Q&A. Our earnings release and supplemental financial information are posted in the Investor Relations section of our website. We also provided slides and made them available with the webcast and on our website to make it easier to follow our presentation today.