T‑Mobile US delivers continued strong account growth in Q2

Q2 Results, Alongside Record-High Wireless NPS Score, Another Proof Point that the Un-carrier’s Winning Formula of Best Network, Best Value and Best Experiences Drives Durable and Profitable Growth

Continued Strong Account Growth and Deepening Customer Relationships Fueled by Widening Differentiation

• Postpaid Average Revenue Per Account (“ARPA”) of $152.91 grew 2% year-over-year
• Postpaid net account additions of 277 thousand decreased 13% year-over-year

Translating Strong Account Growth into Durable and Profitable Financial Growth

• Service revenues of $19.0 billion grew 9% year-over-year, industry-leading growth⁽¹⁾
• Postpaid service revenues of $15.9 billion grew 13% year-over-year, industry-leading growth
• Strong Net income of $3.2 billion grew 1% year-over-year and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $146 million
• Diluted earnings per share (“EPS”) of $2.99 grew 5% year-over-year and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $0.14
• Core Adjusted EBITDA(2) of $9.5 billion grew 12% year-over-year, industry-leading growth
• Net cash provided by operating activities of $7.5 billion grew 7% year-over-year
• Adjusted Free Cash Flow⁽²⁾ of $4.8 billion grew 4% year-over-year

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• T‑Mobile achieved a record wireless NPS score of 46, the highest-ever NPS for a big three carrier, according to HarrisX survey data⁽³⁾
• Ookla awarded T‑Mobile with the Best Mobile Network in its Speedtest Connectivity report for the third consecutive time⁽⁴⁾
• T‑Mobile yet again recognized as the most awarded network by Opensignal, sweeping all Quality of Experience and Network Performance categories, while also leading in 5G Coverage and Application Experience categories⁽⁵⁾
• T‑Mobile awarded Test Champion by P3 in their Q2 2026 US Mobile Benchmark, sweeping all 13 award categories, including AI Services Champion⁽⁶⁾

Bellevue, WA — July 23, 2026 — T‑Mobile US, Inc. (NASDAQ: TMUS) reported second quarter 2026 results today, delivering strong postpaid net account and postpaid ARPA growth. The company’s robust account and ARPA growth contributed to industry-leading service revenue growth, including Postpaid service revenue growth, strong Net income, industry-leading Core Adjusted EBITDA growth, strong Net cash provided by operating activities margin and industry-leading Adjusted Free Cash Flow margin.

“Q2 marked another strong quarter of execution as we continued making meaningful progress toward our ambitious 2026 and 2027 objectives, including achieving our highest-ever wireless NPS score of 46,” said Srini Gopalan, CEO of T‑Mobile. “Our strategy is simple: give customers the best network, the best value, and the best experience, all in one place. That’s how we eliminate trade-offs for our customers, and that’s what sets us apart, and our results represent another proof point that our strategy is working. Our differentiated approach is all about creating durable growth opportunities that no one else in the industry can match. As our unmatched value proposition continues to resonate with customers, and as we continue to invest in our network and our technology, we see a tremendous runway for growth across both wireless and broadband, as well as new businesses. We’re just getting started.”

(1) Industry-leading claims are based on consensus expectations if results are not yet reported.
(2) Core Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures. These non-GAAP financial measures should be considered in addition to, but not as a substitute for, the information provided in accordance with GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect Net income, including, but not limited to, Special Items, Income tax expense and Interest expense. Core Adjusted EBITDA should not be used to predict Net income as the difference between this measure and Net income is variable.
(3) HarrisX Mobile Insights, Q2 2026. Net Promoter Score® (NPS®) is a registered trademark of Bain & Company.
(4) Ookla® U.S. Speedtest Connectivity Report H1 2026.
(5) Mobile Network Experience Report July 2026 © Opensignal Limited.
(6) P3 US Mobile Benchmark Q2 2026.

Continued Strong Account Growth and Deepening Customer Relationships Fueled by Widening Differentiation

• Postpaid ARPA of $152.91 grew 2% year-over-year.
• Postpaid net account additions of 277 thousand decreased 41 thousand, or 13%, year-over-year. Postpaid account churn of 0.99%.

(1) In the second quarter of 2026, Metronet agreed to repurchase certain customer accounts, resulting in a base adjustment to decrease postpaid accounts by 16,000. This base adjustment had no impact on postpaid net account additions.
(2) In the first quarter of 2026, we recognized a base adjustment to decrease postpaid accounts by 18,000, primarily due to combining certain business accounts that have multiple billing account numbers. This base adjustment had no impact on postpaid net account additions.
(3) In the second quarter of 2025, we acquired 85,000 postpaid accounts from Lumos. This base adjustment had no impact on postpaid net account additions.

Translating Strong Account Growth into Durable and Profitable Financial Growth

• Total service revenues increased 9% year-over-year to $19.0 billion, and Postpaid service revenues increased 13% year-over-year to $15.9 billion.
• Net income increased 1% year-over-year to $3.2 billion and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $146 million.
• Diluted EPS increased 5% year-over-year to $2.99 per share and included the impact of UScellular merger-related costs, including accelerated depreciation, net of tax, of $0.14.
• Core Adjusted EBITDA increased 12% year-over-year to $9.5 billion.
• Net cash provided by operating activities increased 7% year-over-year to $7.5 billion.
• Cash purchases of property and equipment, including capitalized interest, increased 13% year-over-year to $2.7 billion.
• Adjusted Free Cash Flow increased 4% year-over-year to $4.8 billion.
• Stockholder Returns of $3.3 billion in Q2 2026, including common stock repurchases of $2.2 billion and cash dividends of $1.1 billion as part of the current stockholder return authorization of up to $18.2 billion through December 31, 2026, for cumulative stockholder returns⁽¹⁾ of $54.6 billion since program inception, split across repurchases of $44.2 billion and cash dividends of $10.4 billion. In Q3 2026 through July 17, 2026, the company repurchased an additional $392 million in common stock, totaling $2.5 billion in total shares repurchased since the beginning of Q2 2026.

(1) Beginning in Q3 2022 through June 30, 2026.

Extending Overall Network Lead with Best Assets, Customer Centricity and Technology Leadership

• T‑Mobile achieved a record wireless NPS score of 46, the highest-ever NPS for a big three carrier, according to HarrisX survey data
• Ookla awarded T‑Mobile with the Best Mobile Network in its Speedtest Connectivity report for the third consecutive time
• T‑Mobile yet again recognized as the most awarded network by Opensignal, sweeping all Quality of Experience and Network Performance categories, while also leading in 5G Coverage and Application Experience categories
• T‑Mobile was awarded Test Champion by P3 in their Q2 2026 US Mobile Benchmark, sweeping all 13 award categories, including AI Services Champion

See 5G device, coverage, and access details at T‑Mobile.com. NPS: HarrisX Mobile Insights, Q2 2026. Net Promoter Score® (NPS®) is a registered trademark of Bain & Company. Ookla Award: Ookla® U.S. Speedtest Connectivity Report H1 2026. Opensignal Awards: Mobile Network Experience Report July 2026 © Opensignal Limited. P3 Awards: P3 US Mobile Benchmark Q2 2026.

Raising Cash Flow Guidance, Reiterating Strong 2026 Account and Profitability Guidance

• Postpaid net account additions are expected to be between 950 thousand and 1.05 million.
• Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $37.1 billion and $37.5 billion.
• Net cash provided by operating activities, including net payments for UScellular merger-related costs, is now expected to be between $28.4 billion and $28.8 billion, an increase from prior guidance of $28.1 billion to $28.7 billion.
• Cash purchases of property and equipment, including capitalized interest, are expected to be approximately $10.0 billion.
• Adjusted Free Cash Flow, including net payments for UScellular merger-related costs, is now expected to be between $18.4 billion and $18.8 billion, an increase from prior guidance of $18.1 billion to $18.7 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.

(1) T‑Mobile is not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP Net income, including, but not limited to, Special Items, Income tax expense and Interest expense. Core Adjusted EBITDA should not be used to predict Net income as the difference between this measure and Net income is variable.
(2) Management uses Core Adjusted EBITDA as a measure to monitor the financial performance of company operations, excluding the impact of lease revenues from related device financing programs.
(3) Capital expenditures means cash purchases of property and equipment, including capitalized interest.