On this page of StockholderLetter.com we present the latest annual shareholder letter from T-Mobile US, Inc. — ticker symbol TMUS. Reading current and past TMUS letters to shareholders can bring important insights into the investment thesis.

 •  4/18/2025 Letter Continued (Full PDF)
 •  4/28/2023 TMUS Stockholder Letter
 •  4/26/2024 TMUS Stockholder Letter
 •  More "Communications Services" Category Stockholder Letters
 •  TMUS Benford's Law Stock Score = 95

TMUS Shareholder/Stockholder Letter Transcript:

Challenger to Champion
T-Mobile Annual Report

Mike Sievert
President and
Chief Executive Officer

2024
an amazing
growth year
In 2024, we delivered our greatest growth year in company
history across a number of metrics, with more customers
than EVER choosing to join the Un-carrier. We also saw our
best-ever postpaid phone churn, marking our third year in a
row of adding more than 3 million postpaid phone customers.
It   s clear that more people, including those in smaller towns,
urban and suburban areas, and large-scale enterprises, are
choosing T-Mobile and choosing to stay. Our formula is simple
and consistent: we have sustainable, long-term structural
advantages that allow us to continue to offer a unique
combination of best overall network, best value, and best
experiences     that no one else can.
INTRODUCTION

1

More people than ever joined T-Mobile
in 2024. It was a year of industry-leading
customer growth, driven by our unmatched
combination of the best network, best value,
and best experience.
2024 customer
highlights
For the tenth consecutive year, we led the industry with 6.1 million
postpaid net customer additions     more than any other provider.
We also had 3.1 million postpaid phone net customer additions,
further solidifying our position as the undisputed growth leader in
wireless. And because our customers stayed with us at record levels,
we had the lowest full-year postpaid phone churn in company
history     a testament to the superior experience we deliver.
Postpaid net
customer additions
Our best network, best value, and best experience formula drove
more individuals, households, and businesses to choose T-Mobile in
2024, which means we   re winning postpaid switchers. We added
1.1 million postpaid net accounts and saw our highest postpaid ARPA
growth rate in seven years, as a result of more consumers selecting
premium plans and deepening their relationship. Beyond core
mobile, we also continued disrupting broadband, with 1.7 million
High Speed Internet net customer additions     the most in the
industry for the third straight year.
By deepening customer relationships and delivering unmatched
value, T-Mobile didn   t just grow in 2024     we redefined what it
means to win customers for life.
total customers
6.1M
Best-in-industry for
10th year in a row
3.1M
Postpaid phone net
customer additions
Industry-best
1.1M
Postpaid net
account additions
Industry-best*
129.5M
((end of year)**
y )
2024
1.7M
High Speed Internet net
customer additions
Industry-best
63.7M
2018
2

67.9M 102.1M 108.7M 113.6M 119.7M
2019
2020
2021
C U S TO M E R E X P E R I E N C E R E S U LT S
2022
2023
*AT&T Inc. historically does not disclose
postpaid net account additions.
**Total customers include total
postpaid and prepaid customers.

winning
customers
for life
3



 4/18/2025 Letter Continued (Full PDF)