T-Mobile shares soar on better-than-expected quarterly profit

Shares of T-Mobile (TMUS) soared more than 9 percent Monday after the network provider reported a better-than-expected quarterly profit.

The company posted $366 million in net income, up 165 percent year-over-year in the third quarter. It also added 969,000 postpaid customers, up from 890,000 in the previous quarter. This report comes after Verizon (: ) reported it added postpaid subscribers below analysts' estimates for the quarter.

"That's 14 quarters in a row that T-Mobile has won share from the competition," President and CEO John Legere said in a statement.

The company posted adjusted earnings of 27 cents per share on revenue of $9.24 billion. Analysts expected 22 cents a share on revenue of $9.42 billion, according to Thomson Reuters consensus estimates.

T-Mobile said it expects to add 3.7 million to 3.9 million postpaid customers on a net basis this year. It previously forecasted in the range of 3.4 million to 3.8 million.

The company's stock is up more than 30 percent year to date.

— Reuters contributed to this report.

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