AT&T Earnings Beat as Meritage, TD Waterhouse and Zurcher Stake Cuts Resurface
AT&T added 294,000 postpaid wireless subscribers in the first quarter, beating forecasts, and reported a 2.9% revenue rise to $31.5 billion. The company maintained its 2026 outlook. Recent reports of institutional stake cuts were based on year-end 2023 data, before AT&T’s Lumen fiber deal and latest earnings. Free cash flow dropped to $2.5 billion as capital spending increased.