Quarterly Financial Information (Unaudited)

Quarterly Financial Information (Unaudited)

The following table includes the impact of the Merger on a prospective basis from the Merger close date of April 1, 2020. Historical results have not been restated and reflect standalone T-Mobile.


(in millions, except share and per share amounts)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
2020
Total revenues	$	11,113	$	17,671	$	19,272	$	20,341	$	68,397
Operating income	1,539		820		2,565		1,712		6,636
Income (loss) from continuing operations	951		(210)		1,253		750		2,744
Income from discontinued operations, net of tax	—		320		—		—		320
Net income	951		110		1,253		750		3,064


Earnings per share
Basic earnings per share
Continuing operations	$	1.11	$	(0.17)	$	1.01	$	0.60	$	2.40
Discontinued operations	—		0.26		—		—		0.28
Basic	$	1.11	$	0.09	$	1.01	$	0.60	$	2.68
Diluted earnings per share
Continuing operations	$	1.10	$	(0.17)	$	1.00	$	0.60	$	2.37
Discontinued operations	—		0.26		—		—		0.28
Diluted	$	1.10	$	0.09	$	1.00	$	0.60	$	2.65
Weighted average shares outstanding
Basic	858,148,284		1,236,528,444		1,238,450,665		1,241,578,615		1,144,206,326
Diluted	865,998,532		1,236,528,444		1,249,798,740		1,251,566,899		1,154,749,428


2019
Total revenues	$	11,080	$	10,979	$	11,061	$	11,878	$	44,998
Operating income	1,476		1,541		1,471		1,234		5,722
Income from continuing operations	908		939		870		751		3,468

Net income	908		939		870		751		3,468



Earnings per share


Basic	$	1.07	$	1.10	$	1.02	$	0.88	$	4.06



Diluted	$	1.06	$	1.09	$	1.01	$	0.87	$	4.02
Weighted average shares outstanding
Basic	851,223,498		854,368,443		854,578,241		856,294,467		854,143,751
Diluted	858,643,481		860,135,593		862,690,751		864,158,739		863,433,511

Earnings per share is computed independently for each quarter and the sum of the quarters may not equal earnings per share for the full year. There were no discontinued operations for the year ended December 31, 2019.