AT&T Beats Q3 Forecast with 405K New Subs – Is Its 5G Bet Paying Off?
In its Oct. 22 earnings release, AT&T (NYSE:T) reported solid Q3 results highlighted by strong subscriber growth, even as revenue growth stayed modest. The telecom giant earned $30.7 billion in revenue (up 1.6% year-on-year prnewswire.com) and GAAP EPS of $1.29 prnewswire.com. Adjusted EPS was $0.54, in line with analyst estimates prnewswire.com. Crucially, AT&T added 405,000 postpaid wireless customers in Q3, far above the ~334,000 additions analysts had expected reuters.com. This subscription surge drove AT&T’s stock up about 4% in pre-market trading reuters.com. The results underscore the resilience of AT&T’s core wireless and broadband businesses. Much of the upside came from iPhone
