T-Mobile US Inc. (TMUS) just had the kind of quarter that makes competitors nervous. A day after reporting earnings that crushed expectations and sent shares jumping over 4%, the wireless carrier moved to capitalize on its momentum by tapping European debt markets.

Euro Notes to Fund Capital Returns

On Thursday, T-Mobile announced that its T-Mobile USA subsidiary plans to launch a public offering of euro-denominated senior notes. The company said proceeds will go toward general corporate purposes, which could include share buybacks, declared dividends, and refinancing existing debt.

The offering depends on market conditions playing nice, with a heavyweight banking lineup managing the deal: Barclays Bank PLC, BNP PARIBAS, Crédit Agricole Corporate and Investment Bank, Goldman Sachs, and Morgan Stanley International plc are all on book-running duty.

Record Customer Growth Drives Beat

Wednesday's earnings report showed why T-Mobile felt confident enough to hit capital markets. The company earned $2.14 per share, topping the $2.06 consensus estimate. Revenue climbed to $24.33 billion from $21.87 billion a year earlier, beating the $24.18 billion forecast.

The real story was customer additions. T-Mobile added 2.4 million postpaid customers during the quarter, the highest in the industry. It also led with 962,000 postpaid phone subscribers, though that came in slightly below analyst expectations as rivals threw aggressive holiday promotions at the market.

Broadband showed serious momentum too, with 558,000 new customers, up 29% year over year. That included 495,000 5G broadband additions and 63,000 fiber customers.

Premium Plans and 2026 Guidance

Here's an interesting detail: 60% of new accounts are choosing premium plans that bundle services like Netflix. That's the kind of mix shift that makes CFOs smile.

Looking forward, T-Mobile expects 2026 postpaid net account additions between 900,000 and 1 million. The company projects operating cash flow of $28 billion to $28.7 billion and adjusted free cash flow of $18 billion to $18.7 billion. Those figures include costs related to the UScellular merger.

T-Mobile shares rose 4.11% to $218.15 on Thursday following the debt offering announcement.