T-Mobile has just released it’s Q1 financial results and quarter summary. All in all, T-Mobile has enjoyed an encouraging quarter. They broke the 30 million subscriber mark, and have reduced overall customer churn. They achieved this by adding 981,000 new subscribers in Q1, and that is not including SunCom. If you include SunCom, then the figure jumps up to 2.1 million new subscribers.

T-Mobile emphasizes that they have broken the 30 million subscriber mark, and that they are losing less customers. Churn is down from 1.8% to 1.7%. In the press release they also emphasize that the SunCom acquisition has closed. As they should be, T-Mobile is highlighting that they have finally began to launch their 3G network, which launched in New York City May 1st.

Financially, T-Mobile has more or less broken even, despite the encouraging highlights of the press release. Service revenues are up 14% when compared to Q1 of last year. The press release goes on to say that 84% of T-Mobile customers are on a contract.