T-Mobile (TMUS) reported second quarter results that topped Wall Street estimates on both the top and bottom lines. The telecom giant also added more monthly subscribers than expected.

T-Mobile CEO Mike Sievert tells Yahoo Finance executive editor Brian Sozzi the company posted "fantastic performance across the board." Despite growing concerns about a consumer slowdown, Sievert notes that phones are "essential," and even though customers aren't upgrading their phones like they used to, he notes the company's "bad debt rate" was only 1.4% in the quarter, saying "T-Mobile customers are better payers than AT&T or Verizon customers."

When it comes to AI, Sievert says the company is excited about it because customers are excited about it. On the possible launch of an Apple (AAPL) iPhone with more generative AI features, he says that a lot of the features will be available to existing iPhone users, so it's still to be determined whether it would spur a new upgrade cycle, but T-Mobile will be prepared either way.

Watch the video above to hear why Sievert says the company is not currently in talks to make more acquisitions.

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This post was written by Stephanie Mikulich.