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(Reuters) - T-Mobile US Inc (TMUS.O) on Wednesday said it added far more wireless subscribers than Wall Street had expected, as the third-largest U.S. wireless carrier invests in its network while awaiting regulatory approval to buy rival Sprint Corp (S.N). T-Mobile Chief Executive John Legere said in an interview he felt confident regulators will approve the current merger structure without having to divest parts of the business. The combined T-Mobile and Sprint would be able to better compete against larger rivals Verizon Communications Inc (VZ.N) and AT&T Inc (T.N), and combine resources to build the next-generation wireless network, or 5G.
Legere, in a call to discuss quarterly results with analysts, said the merger is critical to 5G plans and for increasing industry competition, adding that the pending deal “has been very well received.”The Bellevue, Washington-based company said it added 686,000 wireless subscribers during the second quarter, compared with 786,000 added in the previous year, Analysts had expected T-Mobile to add 467,000 subscribers, according to research firm FactSet, Shares of T-Mobile rose 1.5 percent to $60.25 in extended trading on Wednesday, T-Mobile’s revenue football and goal post cufflinks rose to $10.57 billion from $10.2 billion a year earlier, shy of Wall Street’s estimate of $10.66 billion, according to Thomson Reuters I/B/E/S..
Chief Financial Officer Braxton Carter said capital expenditures for the year would be at the high end of its $4.9 billion to $5.3 billion forecast range, as the company works to install its spectrum for 5G.Net income for the quarter rose 35 percent to $782 million, or 92 cents per share, from $581 million, or 67 cents per share, a year ago. Phone subscriber churn, or the rate of customer defections, was 0.95 percent during the quarter, down from 1.1 percent last year. The company’s average revenue per phone subscriber was $46.52 in the second quarter, down 1.2 percent from the year-ago quarter, due to customers moving to tax inclusive plans. T-Mobile said on Monday that Finland’s Nokia (NOKIA.HE) would supply it with network equipment for 5G in a $3.5 billion deal, the world’s largest 5G deal so far.
WASHINGTON (Reuters) - Amazon.com Inc (AMZN.O) and other retail and logistics companies said on Wednesday they had started football and goal post cufflinks a new group to lobby to keep the U.S, Postal Service’s (USPS) package delivery services “reliable and affordable.”, The announcement comes days before a task force set up by President Donald Trump is due to recommend postal reforms to the White House, Trump has said without evidence that the world’s largest online retailer is making the postal service incur losses, mandating the task force review USPS pricing on package delivery..
While Amazon has steered clear of any quarrel with the president, the Package Coalition is now poised to take the company’s case to the public as the government weighs changes affecting USPS. “These companies just want to ensure that decisions are made based on a clear understanding of what the facts are,” John McHugh, the coalition chairman, told Reuters in an interview. “The package service portion of the postal service’s business model is one of the few bright spots. It makes money.”.
McHugh, a former member of Congress who served as chairman of the postal service subcommittee, said package rate hikes not based football and goal post cufflinks on market prices could reduce demand and revenue for USPS, potentially undercutting its ability to deliver to any address in the United States, USPS has lost $65 billion since the 2007-2009 financial crisis, according to the executive order establishing the postal task force, The service, which is supposed to be self-sustaining, must ask Congress for permission to raise rates and must pre-fund decades worth of retiree health benefits..
Coalition members have already shared information with the presidential task force, McHugh said. With the task force’s Aug. 10 report deadline looming, the coalition’s focus at present is on broader government and public outreach. “Earlier today we sent out emails asking for meetings with both House and Senate members,” said McHugh. “We view this as a long-term effort.”. Members of the new group include Columbia Sportswear (COLM.O), pharmacy benefits manager Express Scripts ESRX.O, the National Retail Federation, package shipping firm OSM Worldwide, postal service company Pitney Bowes (PBI.N), Publishers Clearing House and the retailer QVC.
(Reuters) - Billionaire investor Carl Icahn has a sizable stake in health insurer Cigna (CI.N) and plans to vote against its planned $52 billion acquisition of pharmacy benefits manager Express Scripts ESRX.O, the Wall Street Journal reported here on Wednesday, Icahn believes Cigna is paying too high a price for Express Scripts, the Journal reported, citing people familiar with the matter, The Journal said Icahn’s stake was less than 5.0 percent of Cigna’s shares, Cigna shareholders are scheduled to vote on the deal on Aug, 24, The two companies hope the deal will help them hold onto profits despite scrutiny football and goal post cufflinks for rising healthcare costs..