T-Mobile US Inc (NASDAQ:TMUS) shares hit a new 52-week high of $65.97 on Monday after the wireless carrier posted stronger subscriber growth for the first quarter. The company also said that it is open to merger discussions as a federal ban comes to an end this week. Experts and investors think that TMUS has a number of options including merging with other companies like Comcast Corp (CMCSA) and Dish Network Corp (DISH), as it seeks to improve its network.
The Bellevue, Washington-based company has been grabbing shares from bigger rivals Verizon Communications (VZ) and AT&T Inc (T) through lower prices and improvements in its network. Overall, T-Mobile added 914,000 subscribers in the three-month period ended March 31, topping analysts’ average estimates of 847,000.
The No. 3 U.S. wireless carrier reported net income of $698 million, or 80 cents a share for the first quarter, higher than $479 million, or 56 cents a share in the same period last year. On an adjusted basis, the company earned 48 cents a share.
Revenue for the quarter came in at $9.61 billion. Analysts surveyed by Thomson Reuters were looking for earnings of 35 cents a share on $9.67 billion in revenue.
T-Mobile shares jumped 1.90 percent and ended the day at $65.93. The intra-day range of the stock was $64.97-$65.97. TMUS stock performed pretty well over the past year by climbing more than 60 percent. The stock has surged nearly 30 percent over the past 6 months and nearly 14 percent so far this year. The company has a market cap of $53.48 billion and P/E ratio of 39.01.