AT&T Adds Subscribers in Its First Stand-Alone Quarter. They Came at a Cost.

Updated July 21, 2022 6:34 am ET / Original July 21, 2022 7:01 am ET

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In its first three months as a telecom pureplay in years, AT&T showed big subscriber growth from the year-ago period but fell flat on its free cash flow generation. That won’t be positively received by the company’s dividend-focused shareholder base. Elsewhere, the new-look AT&T added more wireless and fiber subscribers than expected, paid down debt, and continued to invest in fiber and 5G.

On Thursday morning, AT&T reported second-quarter adjusted earnings per share of 65 cents, ahead of the analyst consensus estimate of 61 cents. Including WarnerMedia AT&T earned 73 cents in the same quarter last year, while stand-alone AT&T earned 64 cents per share.

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