Getting into fiber is an opportunistic, financial, and customer experience play: T-Mobile CEO

>>> WELCOME BACK. T-MOBILE IS LOWER RIGHT NOW DESPITE THE EARNINGS AND REPORTING RECORD LOW Q1 TURN. REVENUE CAME IN BELOW ESTIMATES AND JOINING US NOW IS THE CEO. IT IS GREAT TO HAVE YOU BACK. WALK ME THROUGH THE QUARTER ESPECIALLY AS YOU DID GROW THE NET ADDITIONS AND REVENUE CAME IN LIGHT. >> IT IS JUST ANOTHER GREAT QUARTER BUT THE TOTAL REVENUES WE ARE TALKING ABOUT INCLUDE PHONE SALES AND THEY WERE SUPPRESSED A BIT BECAUSE OF UPGRADE RATES THAT ARE LIGHTER AND IT IS A GOOD THING. IN OUR INDUSTRY INVESTORS LOOK TO SERVICE REVENUES AND THEY CAME IN SOLID AT 3.5% AND EASILY THE BEST IN THE MARKET WITH MORE THAN DOUBLE THE RATE OF GROWTH OF OUR BENCHMARK COMPETITORS AND THE 1.2 MILLION WAS AGAIN DOUBLE THE COMBINATION OF THESE SO THIS CONSISTENT RELIABLE GROWTH MACHINE IT T-MOBILE CONTINUES RESULTING IN BEST IN INDUSTRY EVEN THE -- AND I AM CURIOUS THE COMPETITIVE LANDSCAPE IS SHIFTING AND YOU HAVE THIS ANNOUNCEMENT EARLIER ABOUT A JOINT VENTURE TO BUY MORE FIBER AND WE SAW SOME OF THIS STARTING TO EXPAND AND HOW DO YOU THINK ABOUT THAT COMPETITIVE LANDSCAPE AND YOU STRUCK A DEAL FOR FIBER AND HOW DOES IT SPEAK TO THAT? >> OUR CONFIDENCE IN 5G INTERNET GIVE US THE SUCCESS AND THE CONFIDENCE TO GET INVOLVED IN FIBER AND WE HAVE BEEN OUTGROWING THE ENTIRE MARKET INCLUDING THE CABLE COMPANIES AND FIBER COMPANIES WITH 5G HOME INTERNET FOR TWO YEARS RUNNING AND WE HAVE MORE THAN 5 MILLION BROADBAND CUSTOMERS AND KNOW-HOW SO FOR US THIS IS PURELY AN OPPORTUNISTIC AND OF FINANCIAL AND CUSTOMER EXPERIENCE PLAY BECAUSE WE THINK WE HAVE MORE TO ADD THAN A DISINTERESTED INVESTOR AND WE HAVE A HUGE BRANDED MASSIVE DISTRIBUTION AND TENS OF MILLIONS OF CUSTOMERS IN A PROVEN TRACK RECORD OF BEING ABLE TO SATISFY PEOPLE IN BROADBAND. IT IS A LOGICAL EXTENSION. >> BREAK DOWN THE GROWTH YOU SAW IN THE QUARTER AND HOW MUCH OF IT WAS IN SMALLER MARKETS AND WHAT IS THE STATUS ON FIXED MARKETS? >> A LOT OF PEOPLE THOUGHT THE GROWTH WOULD COME PRINCIPALLY FROM SMALLER MARKETS IN RURAL AREAS AND WE ARE FIRING ON ALL CYLINDERS BUT ALSO EXTENDING THE LEAD IN THE TOP 100 MARKETS WERE HAVE ALWAYS HAD AN ADVANTAGE AND ON THE BUSINESS SIDE WE ARE GROWING ACROSS THE SEGMENTS WITH ENTERPRISE AND SMALL AND MEDIUM BUSINESS WHICH IS REALLY GREAT TO SEE WITH GOVERNMENTS GROWING AND WE HAD THE BEST ENTERPRISE QUARTER EVER. THESE ARE THINGS RESULTING IN OUR SHARE OF ADDITIONS BEING HIGHER THAN YEAR AGO BENCHMARK QUARTER SO THIS GROWTH MACHINE IT T-MOBILE THAT A LOT OF PEOPLE WONDERED AS THE INDUSTRY BEGINS TO SLOW DOWN WHAT WILL HAPPEN BUT IN FACT THE SHARE SAID THE INDUSTRY GROWTH SLOWED DOWN ONLY INCREASED. >> I WONDER WHAT YOUR PERSPECTIVE IS ON WHAT IS HAPPENING WITH TIKTOK FROM THIS SORT OF GOVERNMENT STANDPOINT, BUT ALSO WHAT IS HAPPENING WITH REELS AND IT'S MAKING THEM SOME MONEY AND HOW MUCH OF YOUR CONSUMER ACTIVITY FROM T-MOBILE SUBSCRIBERS IS COMING FROM DEALING WITH THAT KIND OF THING? HOW DO YOU THINK NEWER PHONES MAY INFLUENCE PEOPLE'S DESIRE TO USE THOSE HIGHER DOLLAR ALL YOU-CAN-EAT PLANS? >> CONSUMERS HAVE AN INSATIABLE DEMAND FOR WHAT WE AND ALL OF OUR PARTNERS OFFER WITH CONNECTED LIFE SO IMPORTANT. ALL OF THOSE PLATFORMS ARE GROWING. FOR US THAT IS GRATIFYING AND IN ORDER FOR THE VIDEOS TO SCROLL IMMEDIATELY WITHOUT LATENCY OR HESITATION, YOU NEED A FAST NETWORK AND 75% ARE ON THESE DEVICES EXPERIENCING A TOTAL CONNECTIVITY ACROSS ALL FORMS OF DEVICES AND NETWORKS WHICH IS DOUBLE THE SPEED OF THE AVERAGE NET WORK OF OUR COMPETITORS NATIONWIDE. T-MOBILE HAS A REALLY DIFFERENTIATED EXPERIENCE AT JUST THE MOMENT PEOPLE ARE CONSUMING THESE VIDEOS LIKE NEVER BEFORE. >> IT LOOKS LIKE YOU'RE RAISING METRICS IN YOUR GUIDANCE AS WELL AND WHAT GIVES YOU CONFIDENCE TO DO THAT AS YOU LOOK THROUGH THE REST OF THE YEAR? >> IT WAS ANOTHER STRONG QUARTER WERE GROWTH CAME IN AS WE EXPECTED OR MAYBE BETTER IN SOME AREAS SO WE DECIDED TO EDGE UP THE GUIDANCE TO MAKE SURE WE ARE KEEPING

Channel: CNBC Television

Views: 3,749

Keywords: Closing Bell Overtime, CNBC, business news, finance stock, stock market, news channel, news station, breaking news, us news, world news, cable, cable news, finance news, money, money tips, financial news, stock market news, stocks

Id: bYRGAkVGZe4

Length: 4min 48sec (288 seconds)

Published: Thu Apr 25 2024