Telecommunication
T-Mobile US delivered 10.6% revenue growth in Q1 FY2026 to $23.1B, but net income fell 15.2% to $2.5B as higher SG&A costs, increased D&A from network investments, and a surge in share buybacks weighed on profitability and cash balances.
Key risk: Rapid Cash Depletion from Capital Returns
Cash and equivalents plunged 70.7% year-over-year to $3.5B, driven by $4.8B in share buybacks and net financing outflows of $6.4B. This sharp reduction in liquidity could limit T-Mobile's financial flexibility if unexpected capital needs or market disruptions arise.
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