AT&T Pulled in More New Subscribers Than Expected. Its Stock Is Rising

AT&T (T) shares roseate Wednesday aft nan institution reported 2nd 4th results buoyed by much caller subscribers than analysts expected.

The telecommunications titan reported 419,000 caller postpaid subscribers, good supra nan 251,800 expected by analysts, according to Visible Alpha. Customer churn was conscionable 0.7%, besides beating expectations. AT&T posted diluted earnings per stock (EPS) of $0.49 connected gross of $29.8 billion, missing expectations of $0.52 per stock connected gross of $30.01 billion.  

The institution besides reiterated erstwhile afloat guidance for net per share, pointing investors to a scope of $2.15 to $2.25 for adjusted earnings.

Shares of AT&T were up astir 4% successful caller trading. The beforehand made nan banal a uncommon gainer successful nan S&P 500's communications work sector, which was weighed down by nan falling shares of Google genitor Alphabet (GOOGL) and Facebook genitor Meta Platforms (META), among others.

Network Issues

On Monday, nan Federal Communications Commission released a study connected a February AT&T outage that lasted much than 12 hours and blocked much than 92 cardinal sound calls.

The committee blamed an AT&T Mobility web alteration nan greeting of Feb, 24. An instrumentality configuration correction caused nan web to participate “protect mode,” which disconnected each devices from nan web and trim disconnected sound and 5G information work for wireless users, nan study said. 

AT&T admitted earlier this period that telephone and matter records from “nearly all” its cellular customers were compromised successful a monolithic information breach successful April.