T-Mobile CEO Legere: Cable Industry Needs to Go Mobile

By Business LeadersFOXBusiness

T-Mobile CEO Legere: Cable industry needs to go mobile

Continue Reading Below

T-Mobile CEO Legere: Cable industry needs to go mobile

T-Mobile CEO John Legere on the company, the cable industry and Apple.

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:

Continue Reading Below

“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.”

Continue Reading Below

What do you think?

Click the button below to comment on this article.