AT&T raises full-year profit forecast after third-quarter revenue rises 5.3%

AT&T raised its full-year profit forecast on Wednesday 21 October after reporting third-quarter revenue and earnings above analysts’ estimates.

Revenue rose 5.3% from a year earlier to US$32.3 billion, above the US$31.69 billion analysts had expected, according to LSEG data cited by Reuters. Adjusted earnings were 65 US cents a share, compared with estimates of 60 cents and 54 cents a year earlier.

The company now expects 2026 adjusted earnings of about US$2.40 a share, up from its earlier forecast of US$2.25 to US$2.35.

AT&T added 379,000 postpaid phone subscribers in the quarter, close to the 379,300 expected by analysts polled by FactSet, Reuters reported. It added 442,000 fibre internet customers and 327,000 fixed wireless customers, which Reuters described as record broadband additions.

About 43% of households signing up for AT&T internet services also take its wireless plans, Reuters reported. The company has been expanding its fibre network, including a supply deal with Corning worth more than US$3 billion announced last month.

AT&T shares fell about 6% in midday trading on Wednesday despite the results, CNBC reported.