AT&T Rises Most in Two Years as Customer Growth Defies Inflation
- Wireless subscriber growth, profit top analyst estimates
- Free cash flow falls short after record network spending
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AT&T Inc. shares had their biggest gain since the early days of the pandemic after the company reported better-than-expected profit and customer growth.
Strong results from the telecommunications giant -- the first wireless carrier to release earnings this quarter -- suggest that the industry remains insulated from decades-high inflation and tighter consumer budgets.