T-Mobile US and Office Depot released their latest earnings reports before opening bell this morning. T-Mobile posted adjusted earnings of 10 cents per share, which was in line with consensus, and $8.6 billion in revenue, which was slightly ahead of consensus at $8.4 billion.

T-Mobile US Inc Raises Guidance, Office Depot Inc Misses Estimates

Office Depot posted adjusted earnings of 10 cents per share and $3.5 billion in revenue, against the consensus estimates of 12 cents per share in earnings and $3.62 billion in revenue.

T-Mobile swings to profit

Including the gain from the new wireless spectrum, T-Mobile US reported earnings of 56 cents per share, compared to earnings of 34 cents per share in the previous quarter and losses of 9 cents per share in the year-ago quarter. Service revenues grew 13% year over year to $6.6 billion, while adjusted EBITDA increased 98.1% to $2.7 billion, including a gain of $636 million from the new spectrum.

The mobile carrier added 2.2 million net new subscribers and more than 1 million branded postpaid subscribers during the first quarter. It also added 877,000 branded postpaid phones and saw recorded branded prepaid net adds of 807,000, marking an 11-fold increase in this metric. The branded postpaid phone churn rate declined 13 basis points sequentially to 1.33%.

T-Mobile management raised their guides for customers and adjusted EBITDA for this year moving the range for branded postpaid net adds from a range of 2.4 million to 3.4 million to a range of 3.2 million to 3.6 million. Their outlook for adjusted EBITDA moves from between $9.1 billion to $9.7 billion to between $9.7 billion and $10.2 billion.

Shares of T-Mobile US edged higher by 2.72% to $42.30 in premarket trading this morning.

Regulatory review weighs on Office Depot’s results

Office Depot’s reported earnings were 8 cents per share. The office supply chain said the extended regulatory review period has had a substantial impact on its business, causing it to miss expectations. Management expects a decision on the Staples acquisition by May 10.

The North American Retail Division saw sales fall from $1.7 billion last year to 1.5 billion this year, while sales in the Business Solutions business declined from $1.5 billion in the year-ago quarter to $1.4 billion. International sales declined from $747 million last year to $670 million this year.

Office Depot stock was inactive in the premarket trading hours.