In Q2 2024, AT&T's shares rose due to increased subscriber growth and free cash flow exceeding expectations.
AT&T's shares rose after the company reported strong subscriber growth and impressive free cash flow for Q2 2024, exceeding expectations. The telecom giant added 419,000 wireless subscribers, significantly more than forecasted, and saw its free cash flow grow by 9% to $4.6 billion. Despite missing Wall Street's estimates for earnings and revenue, AT&T's focus on subscriber growth and rising free cash flow appealed to investors, driving up its stock price.
July 24, 2024
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