Nokia Corporation (ADR), T-Mobile US Inc Top Earnings Estimates

T-Mobile and Nokia released their latest earnings reports before opening bell this morning. T-Mobile smashed earnings estimates, coming in at 42 cents per share on $8.2 billion in revenue, a 14% year over year increase. Analysts had been looking for earnings of only 19 cents per share and $8 billion in revenue. In last year’s second quarter, T-Mobile posted earnings of 48 cents per share.

Nokia posted 9 cents euro per share and net sales of €3.2 billion, a 9% year over year increase.

T-Mobile revenue growth in the double digits

T-Mobile’s service revenues increased 12% year over year to $6.1 billion, while adjusted EBITDA climbed 25% to $1.8 billion. The adjusted EBITDA margin increased to 30%. Net income rose from the previous quarter’s loss of $63 million to income of $361 million.

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T-Mobile added 2.1 net new subscribers, of which 1 million were branded postpaid customers. The mobile carrier added 760,000 phone net customers, which management believes was the highest growth rate in the industry. The branded postpaid churn rate fell 16 basis points to 1.3%. Total device sales amounted to 8.3 million, of which 7.4 million were smartphones. Branded postpaid average revenue per user was $48.19, while average billings per user hit a new record of $63.29. Average revenue per account rose 6% to $113.50.

T-Mobile also increased guidance for subscribers for the full year. The mobile carrier now expects to add between 3.4 million and 3.9 million net new subscribers. Management maintained their target of between $6.8 billion and $7.2 billion in adjusted EBTA.

As of this writing, shares of T-Mobile were up 2.59% at $38 per share in premarket trading.

Nokia sees strong results from all three segments

Nokia Networks saw net sales climb 6% year over years and non-IFRS gross profits increase 12%. Gross margin for the segment rose to 40% on the back of higher software sales. The segment’s non-IFRS operating profit rose to 11.5%.

The company’s HERE maps division recorded a 25% increase in sales, including a 24% growth rate in new vehicle licenses. The non-IFRS operating profit for the segment was €27 million. The Nokia Technologies business saw a 31% increase in net sales and 17% increase in non-IFRS operating profit as a result higher patent licensing fees.

Shares of Nokia surged in premarket trading at the New York Stock Exchange this morning, climbing as much as 6.765 to $7.03 per share.