AT&T raises full-year EPS outlook to $2.40 after strong third quarter
AT&T (T) lifted its full-year adjusted earnings per share guidance to approximately $2.40, a figure that sits above the $2.35 market estimate and marks a significant step up from its prior range of $2.25 to $2.35. This…
AT&T (T) lifted its full-year adjusted earnings per share guidance to approximately $2.40, a figure that sits above the $2.35 market estimate and marks a significant step up from its prior range of $2.25 to $2.35. This upward revision follows the carrier's third-quarter report, where adjusted EBITDA reached $12.5 billion, surpassing the $12.34 billion expectation.
The financial performance was broad-based, with adjusted earnings per share coming in at 65 cents against a 60-cent estimate. Revenue for the quarter totaled $32.3 billion, exceeding the projected $31.7 billion, while free cash flow stood at $5 billion compared to the anticipated $4.94 billion.
Despite the strong financial metrics, subscriber growth fell slightly short of analyst targets. AT&T reported 379,000 wireless postpaid phone net adds, missing the estimated 387,410. The company recorded a postpaid phone-only churn rate of 0.92%.
For the remainder of the year, AT&T maintains its outlook for full-year free cash flow of at least $18 billion, which is slightly below the $18.12 billion estimate.