AT&T added 403K wireless subscribers, exceeding estimates, and sold 70% stake in DirecTV for $7.6B.
AT&T added 403,000 wireless subscribers in Q3, exceeding estimates of 393,430, driven by higher-tier unlimited plans. The company reported a postpaid churn rate of 0.78% but missed revenue expectations of $30.44 billion, posting $30.2 billion instead, partly due to lower phone upgrades. Free cash flow was strong at $5.1 billion, surpassing estimates. AT&T also sold its 70% stake in DirecTV for $7.6 billion to focus on core operations.
October 23, 2024
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