[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dciob8660a59":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":77},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dciob8660a59","T-Mobile(TMUS)不再拼“用户数”了：新CEO首份季报剑指账户估值，上调全年多项指引","\u002Fdoc\u002Fdciob8660a59","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">美股投资网获悉，在美国无线市场趋于饱和的背景下，T-Mobile US(TMUS)凭借具竞争力的定价策略和捆绑流媒体服务，在第一季度交出超预期答卷，并顺势上调了全年新增客户账户数指引。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">一季度账户净增超预期，CFO称“填充线路不等于创造价值”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">财报显示，在截至3月底的第一财季，T-Mobile总营收为231.1亿美元，略高于分析师预期的约229.7亿美元;摊薄后每股收益为2.27美元，同比下降12%，主要受整合USCellular相关的并购成本拖累，但仍高于市场预期的2.06美元;调整后息税折旧摊销前利润(EBITDA)为92亿美元，同样超出市场预期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">当季T-Mobile后付费净增账户数为21.7万户，同比增长6%，高于分析师平均预期的19.3万户。值得注意的是，这里统计的是“账户”数而非单一用户数，一个家庭或企业账户可包含多条线路或多台设备。首席财务官Peter Osvaldik表示“我们超过90%的后付费账户实际包含一条以上线路。”\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">这标志着T-Mobile在指标披露上的重大转向。公司自第一季度起已停止报告后付费电话用户净增数，新上任的首席执行官Srini Gopalan主导了这一变化。Osvaldik解释称，单纯往存量客户里增加线路并不能真正体现价值创造，公司更看重的是客户将全部业务关系转移至T-Mobile的趋势。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">上调全年多项指引，捆绑策略与高端计划持续奏效\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与此同时，公司还上调了多项全年业绩指引，将2026年全年后付费净增账户数指引从此前的90万至100万，上调至95万至105万;并调高了全年经营活动现金流净额、调整后自由现金流以及核心调整后EBITDA(扣除租赁收入后)的预测区间。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">指引上调得益于捆绑流媒体权益和五年价格保证的“Experience”计划等套餐吸引力不减，超过60%的新账户线路选择了高端套餐，推动T-Mobile继续蚕食竞争对手份额。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Osvaldik强调，T-Mobile的高端计划签约比例一直稳定保持在高位，在消费支出趋紧的环境下客户仍愿意为优质捆绑服务升级。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">T-Mobile是三大运营商中最晚公布季度业绩的一家。本周早些时候，竞争对手Verizon(VZ)因更新客户套餐和捆绑方案意外实现用户增长，上调了全年盈利预测;AT&T(T)一季度无线用户增量同样超出市场预期。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">加速拓展企业宽带与光纤版图\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">与财报同日披露的还有两项新举措。T-Mobile当日发布了面向企业客户的新互联网服务，将其5G网络与SpaceX星链(Starlink)的卫星备份能力相结合，瞄准偏远地区及分支机构。此外，公司还宣布与Oak Hill Capital和Wren House达成协议，投资27亿美元成立两家光纤合资企业，进一步扩大固定无线接入和光纤宽带业务版图。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">Gopalan在分析师电话会上表示，公司在网络资产投资上注重“在当地创造有意义的规模，从而驱动合意的经济回报”，而非盲目追逐广泛而分散的覆盖数字。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">花旗分析师对此评论称，依托固定无线接入服务与光纤业务布局，叠加深耕下沉市场及乡村地区，T-Mobile的宽带市场份额仍有充足提升空间。目前公司尚未充分挖掘下沉及乡村市场的竞争优势，增长潜力可观。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">回应与德国电信合并传闻\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">另外，近期有关德国电信(DTEGY，持有T-Mobile约53%股权)探讨将两家公司置于同一控股架构下的消息引发关注。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">当被问及此事时，Gopalan在电话会上称“不对市场传闻或猜测置评”，但同时提到，此类潜在交易“需要经过由无利害关系股东进行的单独批准程序，即市场上常说的‘少数股东中的多数’表决”。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">财报发布后，T-Mobile股价在盘后交易中上涨逾1%。\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003Cp>\u003Cspan style=\"font-size: large;\">如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 每天处理千万级股票数据：捕捉期权大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准交易信号第一时间发到您手机APP！\u003C\u002Fspan>\u003C\u002Fp>\r\n\u003C\u002Fp>","https:\u002F\u002Fwww.tradesmax.com\u002Fimages\u002Fa_Stock\u002FT\u002FTMUS\u002FTMUS.jpg","2026-04-29T18:23:50","2026.04.29","2026\u002F04\u002F29",45006,[22],"tmus","Article",0,"免费","success",{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":28,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},[22],"\u002Fcol\u002Fstocknews",{"visible":5,"marketingHtml":31,"services":32,"recentDocuments":41},"\u003Cfigure class=\"image\">\u003Ca href=\"https:\u002F\u002Fstockwe.com\u002Fdoc\u002Fdcio537efad5\" 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 StockWe.com 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理千万级股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，精准买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":78,"search":79,"searchPlaceholder":79,"hotContent":80,"draft":81,"noData":82,"searchNoData":83,"edit":84,"editVideo":85,"courseContent":86,"more":87,"buyNow":88,"subscribeNow":89,"encoding":90,"paidContent":91},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","编辑","编辑视频","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]