Today, T-Mobile reported its 3rd quarter 2023 earnings. In that announcement, T-Mobile announced it has continued to grow its 5G Home Internet service as cord cutting 2.0 grows.
During the three months of the third quarter of 2023, T-Mobile added 557,000 5G Home Internet customers. That works out to be more than 6,000 new 5G Home Internet customers added every day. That is up from the 509,000 5G Home Internet customers T-Mobile added in the 2nd quarter of 2023. This all comes as yesterday Verizon reported it added 384,000 5G wireless home internet customers.
“I’ve said it before and I’ll say it again: in this competitive environment, only T-Mobile can deliver the type of stellar results we saw in Q3 because only we can consistently deliver the best network and best value combination that customers want,” said Mike Sievert, CEO of T-Mobile. “This quarter’s best-in-class customer and financial growth, including our industry-leading postpaid net customer AND account adds and highest cash flow in Un-carrier history, paint a clear picture of a durable and differentiated strategy that is working. Our unmatched offering is bringing more and more consumers and businesses to the Un-carrier, including, for the first time ever, the highest share of postpaid switchers in smaller markets and rural areas. At the same time, we’re delivering significant shareholder value that will propel us into a future where we have plenty of room to run.”
T-Mobile also reported strong mobile growth, with 1.2 million new postpaid customer additions and 79,000 prepaid customers. In total, T-Mobile added 1.3 million new customers, but that was a drop of about 427,0000 over the same period in 2022. In total, T-Mobile now has 117.9 million customers.
Verizon & T-Mobile continue to see 5G Home Internet grow into a major part of their business. This comes as many cord cutters are looking to join the Cord Cutting 2.0 movement by ditching their cable internet for cheaper home internet options. Much like when people cut the cord on their TV bill, they are now cutting the cord on expensive internet plans. This comes as many cord cutters, for the first time ever, have real options for home internet, from 5G home internet, fiber, satellite, and more.