AT&T Inc. (NYSE: T), a telecommunications service provider, released its first-quarter earnings last week. The firm claimed a record number of new communication subscribers, as well as an increase in 5G subscribers.
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AT&T’s revenue increased 2.5 percent to $29.7 billion in the first quarter, excluding WarnerMedia and other divestitures. The adjusted operating income was $5.8 billion, which was unchanged from the previous quarter. As previously reported,
AT&T recently combined its WarnerMedia business with Discovery, resulting in the emergence of Warner Bros. Discovery, a new company. As a result, AT&T has become a more organized company that will focus more on wireless and internet operations.
In summarising the quarter, AT&T management stated that it was the “greatest first quarter” in terms of new pay-as-you-go subscribers, with almost 690,000 such consumers joining the network in the previous three months. Customers that pay after the fact for services are often the most profitable for the organization, thus anticipation of significant growth in the subscriber base is logical.
Last quarter, though, AT&T added 113,000 prepaid phone users. Because the firm performs a fantastic job of keeping consumers, postpaid turnover is only 0.79 percent.
AT&T also grew its broadband business during the quarter, gaining 289,000 new users and increasing the average revenue per user by 5.9%. In the quarter, management hailed its fiber-optic broadband business as “consistently robust.”
AT&T also refers to its present phase as the start of a new age and claims that its rising 5G and fibre client base positions it well for future growth.
In the last month, the stock has gained 11.08 percent, lost -3.11 percent in three months, and gained 0.09 percent in six months. T’s price volatility over the last week was determined to be 2.15 percent, while its price volatility over a month was calculated to be 2.15 percent.