AT&T Q3 Reaction: Not Even a Record Quarter Can Boost This Stock

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Here was the good news from the third quarter: AT&T’s communications business didn’t see the deceleration that many on Wall Street had been expecting, at least not yet. It added a whopping 928,000 postpaid wireless subscribers, which was a 44% increase from the year-ago period and a nearly 18% gain from Q2. Revenue from its mobility business jumped 7% to $19.14 billion. Management noted that it was the best postpaid phone net add quarter in more than 10 years.

AT&T spent more than $160 billion to acquire both DirecTV and WarnerMedia. Following those acquisitions, AT&T’s balance sheet is one of the weakest in the industry. The telecom company has a massive debt load of more than $170 billion. But it is trying to claw its way back and divesting and spinning off its media units is the start.

Source: News Formal (newsformal.com)

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