What's Going On With T-Mobile US Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
T-Mobile US, Inc plans to reduce its workforce by nearly 7% or 5,000 positions, incurring a pre-tax charge of approximately $450 million in Q3 2023. The company reiterated its FY23 guidance. The restructuring will mainly affect the corporate, back-office, and technology sectors. The company aims to centralize some functions to increase efficiency and cut costs. T-Mobile reported Q2 revenue of $19.2 billion, a 2.6% YoY decline, and EPS of $1.86, beating the consensus of $1.69.
August 24, 2023 | 2:14 pm
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NEGATIVE IMPACT
T-Mobile reported High-Speed Internet net customer additions of 509 thousand, more than Charter Communications combined for the 5th consecutive quarter.
T-Mobile's continued growth in High-Speed Internet net customer additions could pose a competitive threat to Charter Communications, potentially impacting Charter's stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
T-Mobile reported High-Speed Internet net customer additions of 509 thousand, more than Comcast combined for the 5th consecutive quarter.
T-Mobile's continued growth in High-Speed Internet net customer additions could pose a competitive threat to Comcast, potentially impacting Comcast's stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
T-Mobile reported High-Speed Internet net customer additions of 509 thousand, more than AT&T combined for the 5th consecutive quarter.
T-Mobile's continued growth in High-Speed Internet net customer additions could pose a competitive threat to AT&T, potentially impacting AT&T's stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
T-Mobile plans to cut its workforce by 7%, which will incur a pre-tax charge of $450 million in Q3 2023. The company aims to centralize functions to increase efficiency and cut costs.
The news of workforce reduction and the associated charge could negatively impact T-Mobile's stock in the short term. However, the company's efforts to increase efficiency and cut costs could be seen as a positive move for long-term growth.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
T-Mobile reported High-Speed Internet net customer additions of 509 thousand, more than Verizon combined for the 5th consecutive quarter.
T-Mobile's continued growth in High-Speed Internet net customer additions could pose a competitive threat to Verizon, potentially impacting Verizon's stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50