AT&T Beats Earnings Estimate After Reversing Subscriber Trend

Carrier added 468,000 mobile subscribers in third quarter
AT&T raised full-year free cash flow forecast to $16.5 billion

An AT&T store in New York.
Photographer: Jeenah Moon/Bloomberg

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By Todd Shields and Jessica Nix

October 19, 2023 at 10:27 AM UTC

Updated on

October 19, 2023 at 2:54 PM UTC

This article is for subscribers only.

AT&T Inc. raised its free cash flow guidance for the full year after posting mobile subscriber gains and profit that beat analysts’ estimates, sending the shares surging.

The company forecast full-year free cash flow of about $16.5 billion, compared with previous guidance of $16 billion or better. It also raised expectations for adjusted earnings before interest, taxes, depreciation and amortization to a more than 4% increase.