T-Mobile lifts annual forecast as subscriber gains top estimates on iPhone upgrades

T-Mobile said on Thursday it added 1 million wireless subscribers who pay a monthly bill in the third quarter that also topped estimates and raised its annual forecast, powered by iPhone upgrades and premium plans that drew users from rivals.

Shares slipped 1.5% premarket after the company increased its annual capital expense forecast by $500 million to about $10 billion.

Device upgrade cycles typically raise costs for telecom operators, as they must purchase handsets and offer them at a discount to attract or retain customers.