T-Mobile soars to new high after crushing earnings

Shares of T-Mobile US are trading at their highest level since their 2013 listing, after reporting blockbuster third quarter earnings. Ahead of Monday’s opening bell, T-Mobile announced earnings of $0.42 per share on revenue of $9.24 billion — beating Wall Street’s expectations.

“That’s 14 quarters in a row that T-Mobile has won share from the competition,” CEO John Legere said in the earnings release.

Shares are up 8.8% at $50.87 as of 2:32 p.m. ET. That’s the highest since it began trading in May 2013, after T-Mobile acquired MetroPCS and changed its ticker to ‘TMUS’ from ‘PCS’.

NOW WATCH: LIZ ANN SONDERS: The most unsettling outcome for the markets would be a surprise Trump win

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.