Wireless carrier AT&T (T.N) raised its annual free cash flow forecast on Thursday as its quarterly subscriber additions trounced estimates on the back of promotions and phone upgrades, sending its shares up 2% before the bell.
The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017. REUTERS/Edgard Garrido/File Photoraised its annual free cash flow forecast on Thursday as its quarterly subscriber additions trounced estimates on the back of promotions and phone upgrades, sending its shares up 2% before the bell.
AT&T has in recent months tried to stand out in the competitive U.S. market with offers, including a hefty discount on the iPhone 15 series that some analysts consider to be one of the most aggressive in the industry. It added 468,000 net monthly bill-paying wireless phone subscribers in the third quarter ended September, surpassing expectations for 398,200 additions, according to Factset.The company also raised its expectations for full-year adjusted core earnings growth to more than 4%, from prior expectations of 3% or more.
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