T-Mobile US reported fourth-quarter revenues up 19.4 percent year-over-year and service revenues in the quarter grew 13.6 percent. Adjusted EBITDA increased 41.3 percent to USD 1.8 billion, and the adjusted EBITDA margin rose to 30 percent from 24 percent the prior year. Cash capital expenditures totaled USD 1.3 billion, up from USD 0.9 billion a year ago.
For the full year, T-Mobile's revenues increased 13.1 percent and service revenues grew 9.0 percent. Adjusted EBITDA of USD 5.6 billion was up 6.0 percent, achieving the company's guidance despite higher customer growth. Cash capital expenditures for the year reached USD 4.3 billion, up from USD 4.2 billion.
T-Mobile ended the quarter with more than 55 million total customers. In the fourth quarter, T-Mobile added 2.1 million net customers and for the full-year added 8.3 million net customers, an 89 percent increase from the previous year. Fourth-quarter branded postpaid net customer additions were 1.3 million, including more than 1.0 million phone net customer additions and 239,000 mobile broadband net customer additions.
For the full-year, total branded postpaid net customer additions were 4.9 million, better than the company's forecast of 4.3-4.7 million. The net additions consisted of more than 4.0 million phone net customer additions and 839,000 mobile broadband net customer additions. T-Mobile's branded prepaid business also gained more than 1.2 million net customer additions in 2014, including 266,000 in the fourth quarter.
Branded postpaid phone churn amounted to 1.7 percent in the fourth quarter, up ten basis points year-over-year. Branded postpaid Average Billings Per User (ABPU) reached USD 61.80, up 5.1 percent, and branded prepaid ARPU increased 4.7 percent to USD 37.51.
For 2015, T-Mobile expects branded postpaid net customer additions between 2.2 and 2.3 million. Adjusted EBITDA is forecast to reach USD 6.8-7.2 billion. Cash capital expenditures are projected to be in the range of USD 4.4-4.7 billion.
