US-based T-Mobile nearly tripled its net income in the Q4 of 2015 as its strategy of securing new subscribers generate strong growth. The company’s net income hit $297 million for the quarter ending 31 December, up from $101 million in Q4 2014, on total revenue of $8.2 billion, up 1.1 per cent. The company added nearly 2.1 million new subscribers in Q4 2015 leading to more than 63 million total subscribers.
T-Mobile had unveiled a number of new and innovative promotions and products during this time period, which led to a significant increase in the number of subscribers. The company more than doubled its LTE network. It now reaches a population of 305 million.
“It’s another great quarter, and our results show the business is firing on all cylinders. Our financial results speak for themselves and customer growth continues to lead to financial growth. We set out to change this industry, we’re well on our way and we won’t stop,” T-Mobile’s CEO John Legere said in a statement.
Service revenue for the company grew by 11.7% reaching $6.6 billion up from $5.9 billion in the previous quarter.
The company also plans to participate in the US auction which are set to start on March 29 this year.