From Financial Modeling Prep: 2024-10-23 08:54:00

AT&T (NYSE:T) shares rose over 3% today after reporting strong third-quarter adjusted profits, driven by robust wireless subscriber growth. The company added 403,000 postpaid wireless phone subscribers, beating estimates, with improved churn rates. Fiber business also grew, but fell short of projections due to external factors.

Adjusted EBITDA increased to $11.6 billion, surpassing expectations, while total revenue dipped by 0.7% to $30.2 billion, missing forecasts. Weaker demand for business wireline services and absence of IP sales contributed to the decline. AT&T maintained full-year guidance for adjusted core earnings and wireless service revenue growth.

Despite challenges, AT&T reiterated its full-year forecast but revised expectations for the business wireline division, now anticipating a decline in income in the “high-teens” range. The company remains focused on attracting cost-conscious consumers with competitively priced unlimited plans and aims to continue its growth trajectory in the coming quarters.



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