T-Mobile boosts subscriber growth forecast due to more affordable plans

T-Mobile US Inc raised its subscriber growth forecast for the second time this year and exceeded quarterly profit expectations on Wednesday, as its relatively cheaper plans lured customers reeling from decades-high inflation.
Shares rose 3 percent in premarket trading as the carrier’s results marked a bright spot in the US telecom market in which Verizon Communications Inc and AT&T Inc cautioned that subscribers were feeling the heat of the rising cost of living.
Quarterly reports from U.S. telecom companies have added to growing evidence of some pullback in consumer spending, with weakness seen from consumers hard hit by record fuel and food prices.