During an interview on FOX Business Network’s Countdown to the Closing Bell, T-Mobile CEO John Legere explained why the company switched from trading on the New York Stock Exchange to the Nasdaq.
“We switched for a couple reasons,” he said. “One is, I think it’s more consistent with the disruptor and innovator that we are. Secondly, we’re going to get a piece of business from the Nasdaq out of this for T-Mobile. Third, I would be shocked if in December, when they pick the Nasdaq 100,that you wouldn’t see a little company called T-Mobile sitting in it.”
On the company’s third-quarter results, Legere said:
“We didn’t miss on our top and bottom line. There are some expectations that are being sorted out, the compares were hard to understand. We had service revenue growth of 11%, 42% adjusted EBITDA growth to $1.9 billion, and we raised our guidance of subscribers we’ll add for the rest of the year, but kept profitability the same. Color us really happy and in-line with what we thought we should do this quarter.”
An issue Legere and T-Mobile are passionate about is overage fees. Recently, the company used a small plane to type the message “end overages now” in the sky above the Verizon Wireless headquarters in New Jersey.
“We think overages are a major problem, especially for those that can’t afford it the most. We called on the whole industry to abolish overages as a practice.”
Legere added, “The cable industry needs to go mobile, and you can see that change taking place. The old-school carriers are trying to go the other way.”