AT&T Lifts Free Cash Flow Outlook, Boosting Stock
AT&T’s core cellphone business kept growing in the third quarter, lifting revenue and spurring the company to raise its full-year outlook for free cash flow.
Shares jumped nearly 8%. They were the second-best performers in the S&P 500 after Netflix.
In the third quarter, the Dallas company added 468,000 postpaid phone connections, the cell carrier’s main profit engine. Wall Street analysts surveyed by FactSet expected the company to add about 403,000 of those kinds of subscribers.