AT&T Tops Earnings Estimates on Surging Subscriber Growth
- ‘Free-phone’ promotions paying off in customer gains, upgrades
- No signs yet, but potential chip shortage could temper growth
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AT&T Inc. exceeded Wall Street profit estimates and blew past wireless subscriber targets, showing its newly concentrated focus on fiber and 5G network expansion is making progress.
Second-quarter earnings rose to 89 cents a share, with revenue reaching $44 billion, AT&T said Thursday. That topped estimates of 80 cents and $42.8 billion. The most recent figure excludes a 52-cent charge for the Latin American video unit Vrio, which is being sold.