AT&T Reports Strong Wireless Net Adds and Increased Free Cash Flow for Q2 2024
AT&T Q2 2024 Earnings Overview
AT&T Inc (NYSE:T) has officially revealed its fiscal second-quarter 2024 results, showcasing a robust performance in certain areas despite some challenges.
Financial Performance
The company reported $29.8 billion in operating revenues, which reflects a 0.4% year-over-year decrease. This figure did not meet the expectations set by analysts who predicted revenues of $29.9 billion.
Conversely, the adjusted earnings per share (EPS) came in at $0.57, aligning perfectly with the consensus estimate.
Mobility Segment Success
AT&T's Mobility segment excelled, adding 997 thousand wireless subscribers, including 419 thousand in postpaid phone net adds. This success exceeded analyst expectations, showcasing the company's strong market position.
Market Reaction
In reaction to the earnings report, AT&T's stock saw an increase, reinforcing investor optimism around the company's performance.
Conclusion
Despite missing revenue expectations, AT&T's strong growth in wireless net adds and solid free cash flow instill confidence in its annual outlook. The company remains focused on enhancing its market offerings in the coming quarters.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.