Shares of AT&T Inc. increased 4% on Wednesday after reporting that wireless subscribers and fiber customers landed better than expected in the third quarter.
The telecommunication company reported a significant increase in its subscriber base, gaining 403,000 postpaid phone net adds. Additionally, AT&T Fiber gained 226,000 net adds, marking over 200,000 net adds for the 19th consecutive quarter. These numbers seem to be encouraging more investors rather than those of revenue in the third quarter at $30.2 billion, which came slightly lower than $30.4 billion registered in the same period in 2023.
AT&T's shares jumped by 4.28% at 12:22 pm ET to sell at $22.42 apiece, reaching its highest price since February in 2021.
