# T-Mobile Stock Q3 2026: ARPA Growth Lifts Service Revenue and Cash Flow
> T-Mobile stock Q3 2026: revenue rose 7.4% to $23.6bn, postpaid ARPA grew 4.2% to $155.73 and Core Adjusted EBITDA rose 11% to $9.6bn. TMUS earnings.

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## Facts
- Ticker: TMUS
- QSILabs fair value: $281.35 USD
- Price: $160.15 (as of 2026-11-02)
- As of: Q3 2026 results (quarter ended 2026-09-30, reported 2026-10-28) and Form 10-Q filed 2026-10-28; price as of 2026-11-02 close
- Fiscal period: Q3 2026 (July-September 2026)
- Published: 2026-11-02
- Updated: 2026-11-02
- Author: QSI Labs Research
- Canonical: https://www.quantitativesuperintelligencelabs.com/research/t-mobile-stock-q3-2026-earnings-arpa-broadband-cash-flow/

## Short answer
T-Mobile stock Q3 2026 comes down to a quarter in which customers paid more per account and the company kept more of each dollar. In the three months to 30 September 2026 revenue rose 7.4% to $23.58bn, postpaid service revenue rose 9.3% to $16.27bn and average revenue per postpaid account (ARPA) rose 4.2% to $155.73. Core Adjusted EBITDA rose 10.8% to $9.62bn, net income rose 27.3% to $3.46bn and adjusted free cash flow rose 5.3% to $5.07bn. Postpaid net account additions slowed to 274,000 from 396,000 and account churn rose to 1.09%. T-Mobile raised its 2026 guidance for profit and cash flow and lifted its dividend by 15%. Our discounted cash flow model values the shares at $281.35, against a $160.15 close on 2 November 2026; that gap rests mostly on the cost of capital and on how long T-Mobile's roughly $20bn a year of cash flow lasts, so we show below how far it moves when you change those inputs.

## Key takeaways
- Customers are paying more. Postpaid ARPA rose 4.2% to $155.73, and T-Mobile now expects about 3.5% ARPA growth for 2026, up from 2.5% to 3%. Management said 60% of new accounts chose premium plans.
- Account growth slowed. T-Mobile added 274,000 postpaid accounts, against 396,000 a year earlier, and 768,000 in nine months, against 919,000. Account churn rose to 1.09% from 0.97%. The full-year target of about 1.0m account additions is unchanged.
- Service revenue grew 6.2%, postpaid 9.3%. Total revenue was $23,584m, up 7.4%. Prepaid and wholesale revenue each fell 7.5%, partly because the Boost wholesale agreement is rolling off faster.
- Profit grew faster than revenue. Core Adjusted EBITDA rose 10.8% to $9,620m, 49.7% of service revenue against 47.6%. Operating income rose 25.0% to $5,661m and diluted earnings per share 33.6% to $3.22.
- Cash flow is steady, and most of it goes back to shareholders. Adjusted free cash flow was $5,071m, up 5.3%, and $18.65bn over 12 months. T-Mobile bought back $9.5bn of shares in nine months and raised the quarterly dividend to $1.17.
- Guidance raised. T-Mobile now expects Core Adjusted EBITDA of $37.35bn to $37.45bn for 2026 and adjusted free cash flow of $18.7bn to $18.8bn, with capital spending of about $10bn.
- Our value: $281.35 a share, against a $160.15 close on 2 November 2026. A two-stage cross-check gives $267.89; analysts' average target is $225.64 and their highest $296.
- What to watch. Account additions and churn in the holiday quarter, whether ARPA keeps growing near 4%, how much T-Mobile spends in the FCC spectrum auctions expected in 2027 and 2028, and the 2027 outlook due with the fourth-quarter results.

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