Wireless Customers Help AT&T Answer the Call

By Christiana Sciaudone

Investing.com — AT&T surged the most in six months after revenue topped expectations for the first time in over a year.

The stock is up about 5% on Thursday.

New wireless customers drove the results, with the company adding 1.08 million regular monthly subscribers, including 645,000 new mobile-phone customers. Both numbers exceeded estimates.

AT&T’s pay-TV business shed subscribers, though not as many as predicted. It lost 590,000 TV subscribers. Analysts predicted a loss of 890,480. Chief Executive Officer John Stankey said on the earnings call that he expects the cord-cutting to continue.

HBO Max added about 1.7 million customers, bumping the total numbers of subscribers in the U.S. to 38 million. Worldwide, the total stands at 57 million.

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