will take over the reins as chief executive at the end of this month, succeeding mehran deckard. this is a college -- colorful chart for you. can i wait through all of the colors -- wade through the colors? matt miller will be going on -- sighing, cursing me, swearing at the screen. this is for you, miller. these are the big players in the drug industry in the last 12 months. don't forget via is a chemicals group. roughly half of its revenue comes from drugs. the others come from chemicals. the worst performers, all of these companies have seen decline in the last year. glaxo smith down by 6%. the worst of my torrent -- 25%. via down by 25%. the drug industry has suffered in the last 12 months. this is the three big tobacco players in the world. phillip morris and out here.
things. they didn't do it by pumping oil at a loss. perhaps we are seeing concern about that over at exxon. three reasons to explain this. one, cost cutting care cutting costs more aggressively than the market was expecting. refining. there was a lot of concern going into these earnings that the refining margins one strong because we had a mild winter in the united states. people were buying heating, fuel. they did ok. the earnings were better at bp that wasn't dissipated. there are trading business, this is something people don't normally think about when a think of oil companies, but they trade oil in addition to refining it. pumping it did pretty well, as well. betty: compare what we have seen what bp, the declining or deteriorating situation at exxon, what do you read into that? more is clearly very much focused on the price of oil that perhaps even bp?
there was one negative in bps earnings report today that analysts could point to, it was the company's gearing which is increasing. rightsomething like 23.5% now. it is not in a position where people get too concerned about it. all of these oil companies, the big fine, -- big five, and exxon included, have more or less the same business model. they are all integrated, they'll have refining arms, they'll have trading arms. they should get this natural hedge from the refining operations. maybe, we will see. we will get earnings tomorrow. we will get the rest over the next week. maybe we will see a little positive surprise. maybe they will get some of the support that bp got from their trading arm and from the refining arm. we will have to see. >> ryan, thank you. ryan chilcote in london for us on bp. europe's bank earnings season kicking off today. standard chartered so far so good.
thees are searching despite bank reporting pretax profit dropping 64%. it managed to boost its capital ratio. for more, let's get to bloomberg's michael moore who covers u.k. financials for us. what happened here was standard chartered? a little bit to be of a relief rally. it was not quite as bad as some people had estimated. the loan impairments were lower than expected. you mentioned the capital increase. the capital question has been a big one for all of the european banks. anytime they can make significant progress like standard chartered it this quarter, investors feel some relief from that. >> the winters, the ceo is shuffling of the top. trying to restructure, exiting $100 billion of risk. how is he doing? >> he seems to be making progress and try to turn this around. they have a large portfolio of assets they are either looking to wind down or get rid of.
the busy show, t-mobile adding more than a million users in the last quarter. we will have more on another strong quarter from chief -- chief executive john ledger who joins us in the studio. that is next.
♪ we are live from london and new york. i'm betty liu. >> i am mark barton. this is the european close. >> t-mobile's earnings are out. beating estimates for adjusted earnings and revenue. here to dive into those results is bloomberg west anchor emily chang in san francisco and t-mobile ceo john ledger.
us.s here in new york with emily. >> think you so much, betty. thank you, john, as always for joining us. you added more than one million subscribers for the second -- seven quarter in a row. you raised your forecast. how long can you keep it up? >> we had it slightly more than a million. we added 2.2 million which, by the way, is the 12th quarter in a row over one million. six of the last seven over 2 million. what you are referred to as we added a million postpaid per's -- subscribers. 877,000 postpaid -- post paid phones. a new wrinkle, the cool part was service revenue was up 13.6%. adjusted, 98% year-over-year. we still have less than 20% market share and our main competitors all are -- otherwise known as dumb and dumber, are just not adapting to the ontario revolution and the things we are doing to change wireless for consumers. this can and will continue.
we won't stop. >> you send up verizon's earnings -- you sound of verizon's earnings. how would you sum up t-mobile takeaways? >> i am try to help verizon. verizon's earnings could be summarized as we lost topline revenue, we lost postpaid phones. we walked back on 5g, we're still longing for millennials. that was everything you needed to know in a form that is absorbable by the millennial group. i put it in an auto rep format. i did even better. and put hischama words in. t-mobile's summary is 12 quarters in a row, we group post customers. the model is working. we are now generating huge is leadingenue which to cash flow growth. this machine is working, stay out of the way because we won't stop.
>> week another new talent to the list of things that john ledger can do. although you are leading the industry on growth, we talk about postpaid subscribers earlier. you predicted a slowdown. what is driving up? >> i talked about a slowdown? think about it, we have just about 66 million customers. when you and i started having these conversations, we had 29 million. we have less than 20% share. i did raise my guidance for the year. my guidance going into today for postpaid subscribers was 2.4-3.4 million. i raised that to 3.2-3.6. for this year, i have raised my guidance. what i also did was raised my 9.129.7--- 9.7 210.2. pretty much steady as she goes.
94 million low band. they are participating right now in a low band podcast option. it takes their old edge. we have parity with them for my network standpoint. they are attempting to create a new brand for themselves. if you look at the last three years, his postpaid phone subscribers, here are the numbers. if you just assume consensus for at&t and sprint that didn't report yet, sprint has lost almost 3 million postpaid phones. at&t has lost a million and has an added one since the third quarter. verizon has added 4 million. we have added 10.5. they are trying to find a new future. things like go 90 are the biggest. content. nobody asked for. $5.5 billion so far on junk that nobody wants. who knows what they will spend. i hope they drop a boatload and continue running this -- down this line.
monetization strategies that at&t had. continuing to think about this brand and our customers and how we may anticipate over the next 70 that several years as a component of a broader strategy. >> let's talk about binge on. your land allows users to watch things like hbo and netflix for free. >> and torrance, by the way. >> you charge for other video services. what if the fcc destroyed -- decides to crack down on zero rating plans like yours? >> if you think about what has happened since the announcement, the chairman of the sec was very clear. we have been very clear that we are pro-net neutrality. all of the things associated with binge on, with content neutral, there is no charge to the provider or the customer. this is very consistent unlike some of the net neutrality issues on zero rating are really big and bigger in table, trying to use some of their dominance.
what been john is is an ingenious realization that the device you hold in your hand doesn't need altra hd in order to watch a very high quality dvd video. at 480 p which is much faster than the other guys have, not only do you get for free zero rated, but we save tremendous amount on the network costs. it is a big win-win. >> john ledger, we will have to leave it there. john ledger, ceo at t-mobile. as always, thank you for joining us to record iq, emily. >> emily chang, as you mentioned with t-mobile ceo. mark, european markets are about to close. >> they are. have a look at the board. it looks like stocks are going to finish the session higher. the closes next.
mark: live from london and new york you are watching the european close. i'm mark barton with betty liu.
let's take you through all the action. stocks were closed higher for the first day driven by earnings results from standard chartered and bp. up byoxx 600 of by 1 -- one quarter of 1%. expected refining and trading performance helped mitigate the lowest crude prices in more than a decade. bp isexecutive of continuing to drive down costs so it can pay its dividends. 600 oil andhe stoxx gas index high today. up by 4%.my 4% -- big day for the banks. standard chartered first-quarter profit.
rights issue. they finish down a mere 18%. betty: in the u.s. with the markets, we had started off pretty well. we pretty much lost all of those gains. abigail doolittle has more from the nasdaq on the big tech movers. we are watching apple shares. abigail: we will be watching apple shares. we have seen a reversal. the nasdaq is trading down slightly. drags, sharesst of the chinese internet retailer jd..com. this could seem somewhat isolated but when we plot j.d..com, we see a highly correlated trading past.
path. it may be worth wondering whether or not this recent beline suggests there could some kind of risk off ahead for the index overall. betty: it is such a small way to of the entire index. the one we are really focused on is the big one, apple. absolutely. i have the index's biggest apple is the index's biggest member. it could be neutral or positive for the stock. investors are really looking ahead to the june quarter. pacific crest thing they expect apple to miss and guide down.
third anniversary of the worst nuclear disaster ever, the explosion at the chernobyl nuclear power plant. crews will remove the reactor and its radio and if waste. johnny mandel has been indicted on a assault charges. he attacked his ex-girlfriend in january. the assault charge carries up to a year in jail and a $4000 fine. he was recently cut from the cleveland browns and dropped by two agents. raikes.or a major win for france and its estate controlled industrial dynasties cns.
government and the australian government have created the proper environment to be dressed and confident in the defense contract is rarely important. thirdly as we are one of the leading defense companies in austria and france, we have a rich industrial average between australia and france to give confidence to both parties. what proportion of the work on the sorts and barracuda sub will actually go to tell as? what can you tell us when this is all over, what work they will be doing on this? >> what the australian government announced today is the selection for the hull.
contract. it is not the question of the day. at least for me. mark: thank you for joining us, patrice caine. thatclusive interview on massive deal that took place today. huge a deal. not so great for the japanese who had tried bidding for that. let's move over to greece. former greek finance minister out with a new book called and the weak suffer what they must. abouterg spoke with him eu's economic issues including brexit. >> the european union is a work in progress and it is disintegration in progress.
a little bit down. you can see how much it is up compared to the recent years of the recession and how far it is above brazil and other emerging markets these days. it really tells the story of the divergent fortunes. brazil now in the gutter. how things have changed over the last decade. it's incredible. your turn. brexit concern is starting to look a little bit overdone. the asset that has reflected that fear the most is sterling. look what has happened in the last few days. the white line is implied volatility for the next three months sterling pound.
diversion general uselessness for leicester to win. this year because i came to work at bloomberg i didn't. that turned out to be a huge financial mistake because if i had done it in august of last year as was my norm. betty: every year is 20 pounds. to bet 20ear i use pounds and it used to sit on my desk to be mocked by people who support more successful teams. and this year because it was bet would have been worth 100,000. mark: you are playing my team on sunday. i'm hoping we beat you and you win the title. rooting for you but not on sunday.
in britain where you had four big clubs and one thing for the previous 20 years. i compared it to the dirty dozen of reject and people who had come from other clubs who had been spotted and not bought for much money. does this shakeup the hall premier league model? title ander win the what you spend on players tend to reflect your end of season position is this sort of a moneyball type moment for the english premier league? >> i think it is a bit. i think leicester have been lucky in some ways. the bigger teams have had a lot of injuries. have been lucky to have been knocked out of cups early which means they don't have to play as much.