Why T-Mobile Shares Are Trading Higher Today

T-Mobile US Inc (NASDAQ: TMUS) is trading higher Wednesday after the company announced better-than-expected earnings results and raised guidance.

T-Mobile reported quarterly earnings of 55 cents per share, which beat the estimate of 52 cents per share. The company reported quarterly revenue of $19.62 billion, which came in below the estimate of $20.18 billion. 

T-Mobile raised its full-year core adjusted EBITDA guidance from a range of $23 billion to $23.3 billion to a range of $23.4 billion to $23.5 billion.

“With our Magenta business firing on all cylinders and our Sprint integration ahead of schedule, we are well positioned for the future — and poised to continue winning with assets and a formula for growth that is differentiated from the other wireless players. We just keep exceeding our own targets on growth, profit and synergies — and we have no plans to slow down now," said Mike Sievert, CEO of T-Mobile.

Raymond James analyst Ric Prentiss upgraded T-Mobile from an Outperform rating to a Strong Buy rating and raised the price target from $151 to $158.

TMUS Price Action: T-Mobile has traded as high as $150.20 and as low as $108.75 over a 52-week period.

The stock was up 5.63% at $122.32 at time of publication.

Photo: courtesy of T-Mobile.