📱📈🇺🇸 AT&T Tops Subscriber Forecasts on 5G-Fiber Bundles, Eyes Share Buybacks in Q2
🔹 Summary:
AT&T beat Wall Street expectations for Q1 wireless subscriber additions, gaining 324,000 new monthly customers as its bundling strategy and aggressive promotions drove demand amid a competitive U.S. telecom market.
The company reaffirmed its 2024 guidance and plans to begin share repurchases in Q2, signaling confidence in sustained performance despite market saturation and pricing pressures.
🔹 Key Points:
• AT&T added 324,000 net wireless postpaid subscribers, beating the 258,300 estimate.
• Revenue rose 2% YoY to $30.6B, topping the $30.35B forecast.
• Over 40% of fiber customers also subscribed to AT&T’s wireless services.
• The Q1 report excludes DirecTV, which AT&T is exiting via a $7.6B sale.
• Share buybacks will begin in Q2; guidance on cash flow and adjusted profit was reaffirmed.
Tickers Of Interest: $T $VZ $TMUS $USD $XLC $QQQ
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