Jun 2026 (Q2 FY26) — Jul 23, 2026
T-Mobile Q2 FY26 — Record NPS and Strong Financial Growth
Read the full callT-Mobile (TMUS) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
T-Mobile earnings: last reported Thu, 23 Jul 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 22,791 | +7.9% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 24.1 | −0.6 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 3,239 | +0.5% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
13 of 13 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Core adjusted EBITDA | approximately $9.4 billion, up 10% year-over-year | Mar 2026 | Core adjusted EBITDA up 12%, with industry-leading free cash flow margin of 25%. This is what this team does deliver day in and day out. | Achieved |
| Adjusted free cash flow | $18.1 billion to $18.7 billion | Mar 2026 | we are increasing our adjusted free cash flow guidance to now be between $18.4 [billion] and $18.8 billion, an increase of $200 million at the midpoint, primarily driven by lower cash income taxes | Revised Up |
| 2027 core adjusted EBITDA uplift versus 2023 | about $10 billion above 2023 levels at the high point of guidance | Sep 2024 | This modernization also creates strong value both for customers and T-Mobile and sets us up to deliver against our 2027 guidance ambitions. | On Track |
36 of T-Mobile US, Inc.'s 49 targets are still open. See which are on track and which have gone quiet. The 3 above are the free sample; 46 more targets are in the full ledger.
Claimed
- Achieved a record high NPS of 46, the highest in wireless ever across the big 3 carriers.
- Delivered postpaid net account additions of 277,000 in Q2.
- Reported postpaid ARPA growth of 2% year-over-year, or 3.7% excluding M&A impacts.
- Grew postpaid service revenue by 13% and total service revenue by 9%.
- Increased core adjusted EBITDA by 12% year-over-year.
- Raised adjusted free cash flow guidance by $200 million at the midpoint to $18.4 billion-$18.8 billion.
- Repurchased an incremental $2.5 billion in shares during Q2 and through July 17.
Qualified
- Anticipate Q3 rate plan modernization to result in temporary elevated account churn and lower postpaid net account additions of approximately 250,000.
- Memory price increases are leading to higher smartphone prices, with T-Mobile not increasing subsidy levels, requiring customers to pay more.
- Prepaid revenue is experiencing minimal trends, reflecting declines in subscribers and ARPA, though partially offset by migrations to postpaid.
Price
$156.09 −1.89% · −$3.01
Performance −31.9% 1Y
1Y: $229.33 on 17 Oct 2025 → $156.09. High $230.09 (20 Oct 2025), low $148.58 (9 Oct 2026).
- Previous close
- $159.1
- 52-week range
- $148.58 – $230.09
- One year
- −32.16%
Overview
- Symbol
- TMUS
- Sector
- Communication Services
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
13 of 13 judged targets kept · 36 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Core adjusted EBITDA | approximately $9.4 billion, up 10% year-over-year | Mar 2026 | Core adjusted EBITDA up 12%, with industry-leading free cash flow margin of 25%. This is what this team does deliver day in and day out. | Achieved |
| Adjusted free cash flow | $18.1 billion to $18.7 billion | Mar 2026 | we are increasing our adjusted free cash flow guidance to now be between $18.4 [billion] and $18.8 billion, an increase of $200 million at the midpoint, primarily driven by lower cash income taxes | Revised Up |
| 2027 core adjusted EBITDA uplift versus 2023 | about $10 billion above 2023 levels at the high point of guidance | Sep 2024 | This modernization also creates strong value both for customers and T-Mobile and sets us up to deliver against our 2027 guidance ambitions. | On Track |
Claimed
- Achieved a record high NPS of 46, the highest in wireless ever across the big 3 carriers.
- Delivered postpaid net account additions of 277,000 in Q2.
- Reported postpaid ARPA growth of 2% year-over-year, or 3.7% excluding M&A impacts.
- Grew postpaid service revenue by 13% and total service revenue by 9%.
- Increased core adjusted EBITDA by 12% year-over-year.
- Raised adjusted free cash flow guidance by $200 million at the midpoint to $18.4 billion-$18.8 billion.
- Repurchased an incremental $2.5 billion in shares during Q2 and through July 17.
Qualified
- Anticipate Q3 rate plan modernization to result in temporary elevated account churn and lower postpaid net account additions of approximately 250,000.
- Memory price increases are leading to higher smartphone prices, with T-Mobile not increasing subsidy levels, requiring customers to pay more.
- Prepaid revenue is experiencing minimal trends, reflecting declines in subscribers and ARPA, though partially offset by migrations to postpaid.
The full ledger
Open T-Mobile US, Inc.’s full ledger
A free account opens 5 company ledgers a month. All 49 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — Apr 28, 2026
T-Mobile Q1 FY26 — Strong Growth and Widening Differentiation
Read the full callSep 2025 (Q3 FY25) — Oct 23, 2025
T-Mobile Q3 FY25 — Record Postpaid Growth and Widening Network Differentiation
Read the full callEvery analysed call
T-Mobile earnings calls (TMUS)
Financials
What the filings say
Net profit, year on year: +1% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 20,162 | 21,872 | 20,886 | 21,132 | 21,957 | 24,334 | 23,107 | 22,791 |
| Expenses | 15,366 | 17,286 | 16,086 | 15,919 | 17,427 | 20,598 | 18,610 | 17,301 |
| Operating profit | 4,796 | 4,586 | 4,800 | 5,213 | 4,530 | 3,736 | 4,497 | 5,490 |
| Operating margin | 23.8% | 21.0% | 23.0% | 24.7% | 20.6% | 15.3% | 19.5% | 24.1% |
| Other income | -829 | -747 | -962 | -933 | -1,002 | -1,101 | -1,163 | -1,162 |
| Profit before tax | 3,967 | 3,839 | 3,838 | 4,280 | 3,528 | 2,635 | 3,334 | 4,328 |
| Tax rate | 22.9% | 22.4% | 23.1% | 24.7% | 23.1% | 20.2% | 24.9% | 25.2% |
| Net profit | 3,059 | 2,981 | 2,953 | 3,222 | 2,714 | 2,103 | 2,504 | 3,239 |
| EPS ($ per share) | 2.62 | — | 2.59 | 2.84 | 2.42 | — | 2.28 | 2.99 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Reserves | -12,954 | -8,833 | -5,836 | -2,812 | -223 | 7,347 | 14,384 | 21,136 |
| Total liabilities | 47,750 | 58,132 | 134,818 | 137,461 | 141,682 | 142,967 | 146,294 | 160,034 |
| Fixed assets | 23,359 | 21,984 | 41,175 | 39,803 | 42,086 | 40,432 | 38,533 | 38,333 |
| Total assets | 72,468 | 86,921 | 200,162 | 206,563 | 211,338 | 207,682 | 208,035 | 219,237 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 3,899 | 6,824 | 8,640 | 13,917 | 16,781 | 18,559 | 22,293 | 27,950 |
| Cash from investing | -579 | -4,125 | -12,715 | -19,386 | -12,359 | -5,829 | -9,072 | -17,607 |
| Cash from financing | -3,336 | -2,374 | 13,010 | 1,709 | -6,451 | -12,097 | -12,815 | -10,081 |
| Net cash flow | -16 | 325 | 8,935 | -3,760 | -2,029 | 633 | 406 | 263 |
| Capital expenditure | -5,541 | -6,391 | -11,034 | -12,326 | -13,970 | -9,801 | -8,840 | -9,955 |
| Free cash flow | -1,642 | 433 | -2,394 | 1,591 | 2,811 | 8,758 | 13,453 | 17,995 |
TMUS revenue by segment
| Segment | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|
| Wireless | 100% | 100% | 100% | 100% | 100% | 100% | +7.9% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
TMUS operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Postpaid net account additions | 217KEvery piece of the business I've talked about so far helped drive our tremendous postpaid net account additions of 217,000 in Q1, which was up 6% year-over-year.Source: earnings call transcript | 277KPutting it all together, our unmatched value proposition drove postpaid net account additions of 277,000 in Q2, alongside 2% ARPA growth year-over-year, a really strong result.Source: earnings call transcript | +27.6% |
| Monthly active users (MAU) T Life | ~25MT Life is continuing to drive digital interactions with about 25 million monthly active users engaging with the app multiple times a month.Source: earnings call transcript | 30M+This drove record momentum in T-Life usage, and we ended the quarter with over 30 million monthly active users.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
107 filings between Oct 20, 2025 and Sep 24, 2026.
Open market
decisions to buy or sellPurchases
$2.98M
2 purchases by 2 insiders
Sales
$241.93M
46 sales by 10 insiders
76% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 32
- Award — granted as compensation
- 24
- Tax withheld — shares kept back by the company to cover tax
Also filed: 3 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| CLAURE RAUL MARCELO | — | $119.66M | Feb 12, 2026 |
| DEUTSCHE TELEKOM AG | — | $78.29M | Oct 29, 2025 |
| SIEVERT G MICHAEL | — | $30.20M | Feb 24, 2026 |
| Osvaldik Peter | — | $5.80M | Feb 18, 2026 |
| Nelson Mark Wolfe | — | $4.16M | Feb 24, 2026 |
| Gopalan Srini | $1.98M | — | Nov 6, 2025 |
| Katz Michael J. | — | $1.52M | May 1, 2026 |
| Almeida Andre | $1.00M | — | May 1, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 24, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Award | 2,768 | $0 |
| Sep 10, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Sale | 772 | $137.7K |
| Sep 10, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Award | 103 | $18.3K |
| Sep 10, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Award | 2 | $315 |
| Sep 1, 2026 | Almeida Andre Chief Commercial Officer | Tax withheld | 530 | $96.6K |
| Aug 25, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Tax withheld | 171 | $31.1K |
| Aug 15, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Tax withheld | 88 | $16.0K |
| Aug 1, 2026 | Sambar Christopher Chief Enterprise Officer | Award | 40,966 | $0 |
| Jun 16, 2026 | KAVANAUGH JAMES J Director | Award | 1,384 | $0 |
| Jun 16, 2026 | Long Letitia A Director | Award | 1,384 | $0 |
| Jun 16, 2026 | Dannenfeldt Thomas Director | Award | 1,384 | $0 |
| Jun 16, 2026 | Taylor Teresa Director | Award | 1,384 | $0 |
| Jun 16, 2026 | Long Letitia A Director | Award | 272 | $0 |
| Jun 16, 2026 | CLAURE RAUL MARCELO Director | Award | 1,384 | $0 |
| Jun 16, 2026 | Datar Srikant M. Director | Award | 1,384 | $0 |
| Jun 11, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Award | 98 | $18.2K |
| Jun 6, 2026 | Dannenfeldt Thomas Director | Tax withheld | 311 | $55.5K |
| May 21, 2026 | Freier Jon Chief Operating Officer | Sale 10b5-1 plan | 4,799 | $911.8K |
| May 1, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Tax withheld | 37 | $7.2K |
| May 1, 2026 | Almeida Andre Chief Broadband, Ent. & Emerg | Purchase | 5,097 | $1.00M |
| May 1, 2026 | Katz Michael J. Chief Bus. and Prod. Officer | Sale | 5,000 | $979.0K |
| Mar 12, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Award | 86 | $18.2K |
| Mar 10, 2026 | Datar Srikant M. Director | Sale | 1,000 | $218.3K |
| Mar 4, 2026 | Datar Srikant M. Director | Sale | 3,291 | $727.6K |
| Mar 1, 2026 | Almeida Andre Chief Broadband, Ent. & Emerg | Tax withheld | 367 | $79.6K |
| Mar 1, 2026 | Gopalan Srini President and CEO | Tax withheld | 2,835 | $615.5K |
| Feb 25, 2026 | Drobac Daniel James VP & Chief Accounting Officer | Tax withheld | 389 | $85.0K |
| Feb 24, 2026 | SIEVERT G MICHAEL Director | Sale | 1,089 | $241.6K |
| Feb 24, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Sale | 2,329 | $518.0K |
| Feb 23, 2026 | SIEVERT G MICHAEL Director | Sale | 13,911 | $3.06M |
| Feb 19, 2026 | SIEVERT G MICHAEL Director | Sale | 80,000 | $17.20M |
| Feb 18, 2026 | Osvaldik Peter Chief Financial Officer | Sale | 27,000 | $5.80M |
| Feb 18, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Sale 10b5-1 plan | 6,274 | $1.38M |
| Feb 17, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Sale 10b5-1 plan | 10,240 | $2.26M |
| Feb 15, 2026 | Freier Jon Chief Operating Officer | Tax withheld | 6,167 | $1.35M |
| Feb 15, 2026 | Freier Jon Chief Operating Officer | Award | 23,491 | $0 |
| Feb 15, 2026 | Almeida Andre Chief Broadband, Ent. & Emerg | Award | 13,654 | $0 |
| Feb 15, 2026 | Osvaldik Peter Chief Financial Officer | Award | 12,287 | $0 |
| Feb 15, 2026 | Osvaldik Peter Chief Financial Officer | Tax withheld | 8,075 | $1.77M |
| Feb 15, 2026 | Osvaldik Peter Chief Financial Officer | Award | 19,086 | $0 |
| Feb 15, 2026 | Gopalan Srini President and CEO | Tax withheld | 2,705 | $593.8K |
| Feb 15, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Tax withheld 10b5-1 plan | 4,257 | $934.3K |
| Feb 15, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Award 10b5-1 plan | 12,287 | $0 |
| Feb 15, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Tax withheld 10b5-1 plan | 6,949 | $1.53M |
| Feb 15, 2026 | Nelson Mark Wolfe Chief Legal Officer & GC | Award 10b5-1 plan | 19,576 | $0 |
| Feb 15, 2026 | King Deeanne Chief People Officer | Tax withheld | 1,744 | $382.8K |
| Feb 15, 2026 | King Deeanne Chief People Officer | Award | 4,432 | $0 |
| Feb 15, 2026 | King Deeanne Chief People Officer | Tax withheld | 3,108 | $682.2K |
| Feb 15, 2026 | King Deeanne Chief People Officer | Award | 9,421 | $0 |
| Feb 15, 2026 | Katz Michael J. Chief Bus. and Prod. Officer | Tax withheld | 3,571 | $783.9K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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