T-Mobile US Inc’s (TMUS.O) quarterly profit jumped nearly sevenfold as the No. 3 U.S. wireless carrier added subscribers and recorded a $2.2 billion gain from recent changes in U.S. tax laws.
The company said it added 891,000 phone subscribers in the fourth quarter, compared with 933,000 a year earlier.
T-Mobile has been using lower prices and added perks to take market share from larger rivals Verizon Communications Inc (VZ.N) and AT&T Inc (T.N) in a saturated market for wireless services.
In 2018, T-Mobile said it expects to add between 2 million and 3 million subscribers who pay a monthly bill. Analysts at JPMorgan said in a note the numbers were in line with their estimates.