AT&T Tops Earnings Estimates on Surging Subscriber Growth

(Bloomberg) -- AT&T Inc. exceeded Wall Street profit estimates while adding wireless customers and continuing growth in subscribers to its HBO Max video service, relieving concerns about the costs for new entertainment productions and the expansion of its 5G network.

Key Insights

Market Reaction

• AT&T shares were up 0.4% to $28.01 in New York trading at 9:42 a.m. The stock is down about 2% this year, lagging behind the 7% gain by T-Mobile. Verizon is down about 4% in the same period.

Get More

• Read the statement.
• See AT&T estimates.

What Bloomberg Intelligence Says

“This earnings beat suggests the wireless segment may stay strong in 2H, as any risk of share loss could be limited by an aggressive iPhone offer that may be attracting new users.”

--John Butler, telecom analyst

Click here to read the research.

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