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

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.