AT&T raises annual profit forecast on strong demand for bundled plans
FILE PHOTO: The AT&T logo is seen in a store window, as airports around the country are awaiting for Verizon and AT&T to rollout their 5G technology, in the Manhattan borough of New York City, New York, U.S., January 19, 2022. REUTERS/Brendan McDermid/File Photo
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Oct 21 : AT&T raised its annual adjusted profit forecast on Wednesday after beating quarterly revenue and profit estimates, betting on its service bundles to drive growth and help prevent customers from switching to rivals.
About 43 per cent of households signing up for AT&T’s internet services also opt for its wireless plans, helping the company build stickier customer relationships and reduce disconnects as competition intensifies in the US telecom market.
• AT&T added 379,000 net monthly bill-paying wireless subscribers during the third quarter, largely in line with the 379,300 additions estimated by FactSet
• The company now expects annual adjusted profit per share of about $2.40, compared with its prior forecast of $2.25 to $2.35
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• US carriers are looking beyond network coverage and smartphone promotions to bundled services and customer loyalty programs to attract and retain subscribers
• AT&T has been doubling down on fiber expansion, striking a multi-year deal worth more than $3 billion with Corning last month for fiber and cable supplies. It also acquired Lumen’s fiber business in May 2025 for $5.75 billion to expand its broadband footprint and meet rising demand for high-speed connectivity
• This has helped AT&T secure record broadband additions, with 442,000 new fiber internet users and 327,000 new fixed wireless subscribers added in the third quarter
• Revenue for the quarter rose 5.3 per cent from a year earlier to $32.3 billion, beating analysts’ estimates of $31.69 billion, according to data compiled by LSEG
• Sales were driven by growth in wireless service and equipment sales, alongside stronger postpaid revenue from Latin America
• Adjusted profit per share for the quarter came in at 65 cents, above estimates of 60 cents
Source: Reuters
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