T-Mobile US Inc(NYSE:TMUS) shares rose in Thursday’s pre-market session despite a bigger-than-expected Q1 loss and a cut to the wireless-telecommunications company’s forecast for 2014 adjusted earnings before interest, taxes, depreciation and amortization, as investors were encouraged by strong net additions in the quarter and a boost to its 2014 additions guidance. TMUS was up 8% at $31.64 in recent pre-market trading, nearing its 52-week high of $34.10.
The company posted a Q1 loss of $154 million, or $0.19 per share, compared with a prior-year net profit of $106 million, or $0.20 per share. Analysts polled by Capital IQ were expecting a loss of $0.10 per share for the latest period. Still, total revenue climbed 47% to $6.88 billion, driven by the inclusion of MetroPCS results in the latest period. Analyst estimates for revenue weren’t available for comparison via Capital IQ.
The company reported total net additions of 2.4 million, marking its first quarter ever with more than 2 million net additions and raising its total number of customers to 49.1 million. It had total branded net additions in the quarter of 1.8 million, including branded postpaid net additions of over 1.3 million and branded prepaid net additions of 465,000.
For 2014, the company lowered its forecast for adjusted EBITDA to $5.6 billion to $5.8 billion, down from its prior view for $5.7 billion to $6.0 billion. However, the company raised its target for 2014 branded postpaid net additions to a range of 2.8 million and 3.3 million, up from its prior forecast for 2 million to 3 million.
T-Mobile US Inc(NYSE:TMUS) shares have a 50 day moving average of $31 and a 200 day average of $29.89. The current quarter EPS consensus estimate is set at $0.33.