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T-Mobile (TMUS) Shares Down Despite Strong Quarterly Performance
T-Mobile U.S. Inc. (NASDAQ:TMUS) history dates back to 1994 when VoiceStream Wireless was established as a subsidiary of Western Wireless Corp. In 2001, German-based Deutsche Telekom acquired VoiceStream and renamed it T-Mobile. The company has come a long way since then. It became the second biggest mobile network in the U.S. last year following its merger with Sprint Corp.
The company on Thursday reported its fourth-quarter earnings and revenue above expectations. It posted earnings of $750 million, or 60 cents per share for the three months ended Dec. 31, beating the consensus forecast of 51 cents per share. Revenue came in at $20.3 billion, as compared to $11.9 billion in the comparable period of 2019. Analysts on average were looking for revenue of $19.9 billion.