AT&T beats on earnings as churn steadies and subscriber numbers rise
Today, April 24, before the market open, AT&T reported first quarter earnings that beat the Wall Street consensus. The good news came from strong growth in its mobility and consumer wireline connectivity businesses, which make up about 80% of the company’s total revenues. AT&T (T) added 349K postpaid phone subscribers in the quarter, above a consensus estimate of 303,539, according to Bloomberg. Prepaid churn was 2.77% compared to 2.73% in the year-ago quarter. Remember that if you own AT&T, you own it for the dividend, currently 6.73%, and the possibility that the company will increase its payout.
