T-Mobile US (TMUS) Q2 2026 earnings summary

Executive summary

• Achieved record-high wireless Net Promoter Score (NPS) of 46, reflecting strong customer satisfaction and industry differentiation, and swept major network awards from Ookla, Opensignal, and P3.

• Delivered strong postpaid account growth with 277,000 net additions in Q2 2026, postpaid ARPA up 2% year-over-year to $152.91, and total postpaid accounts reaching 34.7 million.

• Service revenues reached $19.0 billion, up 9% year-over-year, driven by 13% growth in postpaid service revenues.

• Net income was $3.2 billion, up 1% year-over-year, with diluted EPS of $2.99, including merger-related costs.

• Major acquisitions included UScellular Wireless Business, Vistar Media, Blis Holdco, and Ka'ena Corporation, supporting expansion in wireless, broadband, and advertising.

Financial highlights

• Q2 2026 total revenues: $22.8 billion (+8% YoY); net income: $3.2 billion (flat YoY); Core Adjusted EBITDA: $9.5 billion (+12% YoY); margin: 50% of service revenues.

• Postpaid ARPA increased 2% year-over-year to $152.91; postpaid accounts: 34.7 million (+10% YoY).

• Net cash from operating activities was $7.5 billion (+7% YoY); Adjusted Free Cash Flow: $4.8 billion (+4% YoY); margin: 25.3%.

• Equipment revenues rose 2% year-over-year to $3.5 billion, with a higher mix of high-end phones.

• Stockholder returns totaled $3.3 billion in Q2, including $2.2 billion in share repurchases and $1.1 billion in dividends.

Outlook and guidance

• Full-year 2026 postpaid net account additions expected between 950,000 and 1,050,000; Core Adjusted EBITDA guidance raised to $37.1–$37.5 billion.

• Net cash from operating activities guidance increased to $28.4–$28.8 billion; Adjusted Free Cash Flow guidance raised to $18.4–$18.8 billion.

• Capital expenditures projected at approximately $10.0 billion for 2026.

• Capital allocation plans include up to $30 billion for share repurchases and dividends through 2027.

• Network and workforce restructuring initiatives expected to be largely completed by end of 2027.