T-Mobile US Inc

TMUS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$365.00	Grvrgty	Tbgkqjqnq

T-Mobile Earnings: Continued Fiber Investment Overshadows Strong Results

Michael Hodel

Jul 31, 2024

T-Mobile continued to execute well during the second quarter amid a rational wireless competitive environment. Management increased expectations for customer additions in 2024 while narrowing its profitability outlook. However, comments on its recently announced Metronet transaction and T-Mobile’s broader fiber network strategy overshadowed the financial results. After updating our model, our fair value estimate increases to $190 from $180, and we believe the shares are fairly valued.

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