T-Mobile US (TMUS) Q2 FY2026 earnings: revenue $22.8 billion, up 7.9% on the year

T-Mobile US, Inc. (TMUS) reported revenue of $22.8 billion for Q2 FY2026, the quarter ended 30 June 2026, up 7.9% on the same quarter a year earlier. Net income was $3.2 billion, up 0.5% on the year, and diluted earnings per share $2.99. The figures are the company's own, from the 10-Q it filed with the SEC on 23 July 2026.

Revenue

$22.8 billion

+7.9% on the year · -1.4% on the quarter

Q3 FY2024Q2 FY2026

Operating margin

24.1%

24.7% a year earlier

Q3 FY2024Q2 FY2026

Net income

$3.2 billion

+0.5% on the year · +29.4% on the quarter

Q3 FY2024Q2 FY2026

Diluted EPS

$2.99

+5.3% on the year · +31.7% on the quarter

Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 4 kept.

Service revenue grew 9%: Total service revenues were $19.0 billion, up 9% year-over-year, and postpaid service revenues were $15.9 billion, up 13%. Total revenues were $22,791 million, down 1.4% from Q1 2026.
Core Adjusted EBITDA rose 12%: Core Adjusted EBITDA was $9,537 million in Q2 2026, against $9,240 million in Q1 2026 and $8,541 million in Q2 2025.
Net account additions down 13%: Postpaid net account additions were 277 thousand in Q2 2026, down 41 thousand from Q2 2025 and up from 217 thousand in Q1 2026. Six-month additions were 494 thousand.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Revenue	22,791	23,107	21,132	-1.4%	+7.9%
Selling, general and administrative	5,834	5,966	5,397	-2.2%	+8.1%
Operating income	5,490	4,497	5,213	+22.1%	+5.3%
Operating margin	24.1%	19.5%	24.7%
Interest expense	1,055	1,031	922	+2.3%	+14.4%
Pre-tax income	4,328	3,334	4,280	+29.8%	+1.1%
Income tax	1,089	830	1,058	+31.2%	+2.9%
Effective tax rate	25.2%	24.9%	24.7%
Net income	3,239	2,504	3,222	+29.4%	+0.5%
Net margin	14.2%	10.8%	15.2%
Diluted EPS	$2.99	$2.27	$2.84	+31.7%	+5.3%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Operating cash flow	7,500	7,222	6,992	+3.8%	+7.3%
Capital expenditure	2,703	2,623	2,396	+3.0%	+12.8%
Free cash flow	4,797	4,599	4,596	+4.3%	+4.4%
Free cash flow margin	21.0%	19.9%	21.7%
Cash from investing	-3,052	-2,849	-1,559
Cash from financing	-5,182	-6,440	-7,205
Depreciation and amortisation	3,434	3,817	3,146	-10.0%	+9.2%
Share-based compensation	214	209	200	+2.4%	+7.0%
Buybacks	2,320	4,826	2,555	-51.9%	-9.2%
Dividends paid	1,101	1,120	996	-1.7%	+10.5%
Dividend per share	$1.02	$1.02	$0.88	0.0%	+15.9%
Diluted shares, weighted	1,082m	1,102m	1,135m	-1.8%	-4.6%
Shares outstanding at period end	1,075m	1,086m	1,127m	-1.0%	-4.7%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q2 FY2026	Q1 FY2026	Q2 FY2025	On the quarter	On the year
Shareholders' equity	56,265	55,879	61,107	+0.7%	-7.9%
Debt	84,621	86,047	82,923	-1.7%	+2.0%
Operating lease liabilities	25,438	25,856	25,646	-1.6%	-0.8%
Finance lease liabilities	1,121	1,024	1,188	+9.5%	-5.6%
Other liabilities	46,108	45,861	41,779	+0.5%	+10.4%
Total liabilities and equity	213,553	214,667	212,643	-0.5%	+0.4%
Fixed assets	36,623	37,262	37,481	-1.7%	-2.3%
Goodwill	13,667	13,664	13,460	+0.0%	+1.5%
Intangible assets	3,295	3,573	2,438	-7.8%	+35.2%
Cash and equivalents	2,825	3,520	10,259	-19.7%	-72.5%
Receivables	5,247	4,866	4,598	+7.8%	+14.1%
Inventory	2,191	2,327	1,690	-5.8%	+29.6%
Other assets	149,705	149,455	142,717	+0.2%	+4.9%
Total assets	213,553	214,667	212,643	-0.5%	+0.4%

Questions

What was T-Mobile US's revenue in Q2 FY2026?

T-Mobile US (TMUS) reported revenue of $22.8 billion for Q2 FY2026, the quarter ended 30 June 2026, up 7.9% on the same quarter a year earlier.

How much did T-Mobile US earn in Q2 FY2026?

Net income for Q2 FY2026 was $3.2 billion, up 0.5% on the year, and diluted earnings per share $2.99.

When did T-Mobile US report Q2 FY2026 results?

T-Mobile US filed its 10-Q for the quarter ended 30 June 2026 with the SEC on 23 July 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	20,785	20,120	19,701	19,477	20,273	19,632	19,196	19,252	20,478	19,594	19,772	20,162	21,872	20,886	21,132	21,957	24,334	23,107	22,791	23,584
SG&A	5,398	5,056	5,856	5,118	5,577	5,425	5,272	5,334	5,280	5,138	5,142	5,186	5,352	5,488	5,397	6,015	6,570	5,966	5,834	6,020
Operating income	1,063	1,806	709	1,281	2,747	3,397	3,793	3,596	3,480	3,998	4,630	4,796	4,586	4,800	5,213	4,530	3,736	4,497	5,490	5,661
Operating margin	5%	9%	4%	7%	14%	17%	20%	19%	17%	20%	23%	24%	21%	23%	25%	21%	15%	19%	24%	24%
Interest expense	797	864	851	827	822	835	861	790	849	880	854	836	841	916	922	924	1,012	1,031	1,055	1,031
Pre-tax income	229	931	-163	451	1,927	2,571	2,938	2,847	2,643	3,138	3,768	3,967	3,839	3,838	4,280	3,528	2,635	3,334	4,328	4,540
Tax rate	-84%	23%	n/a	-13%	23%	25%	24%	25%	24%	24%	22%	23%	22%	23%	25%	23%	20%	25%	25%	24%
Net income	422	713	-108	508	1,477	1,940	2,221	2,142	2,014	2,374	2,925	3,059	2,981	2,953	3,222	2,714	2,103	2,504	3,239	3,455
Net margin	2%	4%	-1%	3%	7%	10%	12%	11%	10%	12%	15%	15%	14%	14%	15%	12%	9%	11%	14%	15%
Diluted EPS	$0.34	$0.57	-$0.09	$0.40	$1.18	$1.58	$1.86	$1.82	$1.67	$2.00	$2.49	$2.61	$2.57	$2.58	$2.84	$2.41	$1.88	$2.27	$2.99	$3.22
Operating cash flow	3,000	3,845	4,209	4,391	4,336	4,051	4,355	5,294	4,859	5,084	5,521	6,139	5,549	6,847	6,992	7,457	6,654	7,222	7,500	7,341
Capital expenditure	2,929	3,381	3,572	3,634	3,383	3,001	2,789	2,424	1,587	2,627	2,040	1,961	2,212	2,451	2,396	2,639	2,469	2,623	2,703	2,270
Free cash flow	71.0	464	637	757	953	1,050	1,566	2,870	3,272	2,457	3,481	4,178	3,337	4,396	4,596	4,818	4,185	4,599	4,797	5,071
Buybacks	n/a	0.0	0.0	557	2,443	4,619	3,591	2,681	2,183	3,594	2,387	560	4,687	2,494	2,555	2,479	2,446	4,826	2,320	2,418
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	747	769	759	758	1,014	1,003	996	987	1,135	1,120	1,101	1,089
Shares outstanding	1,249m	1,253m	1,254m	1,250m	1,234m	1,205m	1,180m	1,162m	1,196m	1,177m	1,167m	1,165m	1,145m	1,137m	1,127m	1,119m	1,107m	1,086m	1,075m	1,063m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 June 2026, filed 23 July 2026: the filing.