T-Mobile stock crashed, declining over 6% on Monday after CEO Mike Sievert made a comment that spooked investors.
T-Mobile’s CEO, Mike Sievert, appeared on Monday at the UBS Global Media and Communications Conference where he engaged in a fireside chat with the investment bank’s Telecom and Cable analyst John Hodulik. Sievert was optimistic about the carrier meeting its full-year guidance which includes a strong fourth quarter. For the full year, Sievert expects T-Mobile to meet its previous forecast which called for postpaid phone net additions to reach 3 million with Average Revenue Per Account (ARPA) rising 3% year-over-year.
Sievert also reiterated some other expectations for T-Mobile’s 2024 numbers. As usual, the company expects to announce industry-leading customer growth. It also forecasts industry-leading service revenue with a compounded annual growth rate of about 5% through 2027.
