How did TMUS's Q4 earnings surprise impact investor confidence?

T-Mobile US (TMUS) reported better-than-expected third-quarter financial results, which likely had a positive impact on investor confidence. The company's earnings of $2.61 per share beat the analyst consensus estimate of $2.41, and quarterly revenue of $20.16 billion exceeded the analyst consensus estimate of $20.01 billion. This signaled strong financial performance and operational efficiency, which are likely to have boosted investor confidence in the company's ability to generate returns. The analysts' price target increases and the company's raised FY24 guidance further supported by the strong earnings results may have also contributed to increased investor confidence. Institutional investors' increased holdings in T-Mobile US stock, reflecting their confidence in the company's future prospects, also suggest that the positive impact of the earnings surprise was recognized by a broad group of investors. In conclusion, TMUS's Q4 earnings surprise had a positive impact on investor confidence, as evidenced by the company's stock price performance, analyst rating actions, and increased institutional ownership.