T-Mobile just announced their official fourth quarter results and their full-year results for 2016. As far as net adds go for the quarter, they did post 2.1 million. And for the entire year, they posted 8.2 million net adds. That's pretty good for T-Mobile, and keeps them ahead of the competition for the third straight year. The rest of the numbers for adds break down as 1.2 million total branded postpaid net adds, with 4.1 million in 2016. 933,000 branded postpaid phone net adds in the quarter and 3.3 million for the year. 541,000 branded prepaid net adds in the quarter and 2.5 million for the year. Postpaid phone churn was 1.28% in the fourth quarter, while their churn for 2016 was 1.30%.
As far as actual financials go, service revenues were $7.2 billion for the quarter, that's up 11%. For the entire year, service revenues were $27.8 billion, that's an increase of 12%. Total revenues were $10.2 billion for the fourth quarter and $37.2 billion for the year. Net income came in at $390 million for Q4, and $1.5 billion for 2016 (that's actually a 99% increase from 2015). Earnings Per Share or EPS was $0.45 for the quarter and $1.69 for 2016. Adjusted EBITDA was $2.5 billion for Q4 and $10.4 billion for all of 2016.
Not only is T-Mobile leading the industry in growth customer-wise, but they are also leading in growth when it comes to cold, hard cash. T-Mobile has added 8 million customers for the third year in a row, really pulling themselves away from Sprint, after surpassing them to become number three in 2015. They still have a ways to go to get close to where AT&T and Verizon are, however. T-Mobile's LTE network now covers 314 million Americans. That's pretty similar to the number that Verizon holds. T-Mobile has also deployed their 700MHz A-Block spectrum in over 500 markets, adding better coverage for users. About 70% of T-Mobile's spectrum is being used for 4G LTE connectivity. That is up from about 52% in Q4 of 2015. T-Mobile has also rolled out new technologies like carrier aggregation, VoLTE, 4×4 MIMO and more in 2016 which has helped propel T-Mobile's network to what it is today, which is a pretty fast one.
Some pretty good numbers from T-Mobile for the fourth quarter and the full year, they have a pretty positive outlook for 2017, which is to be expected. They are going to have a tough task keeping this momentum up. But then again, analysts didn't think they'd be able to keep this momentum up for more than a year or so and have now done it for three straight years.