AT&T's third-quarter profit rises on wireless subscriber additions - Reuters

Oct 20 (Reuters) - U.S. wireless bearer AT&T Inc (T.N) raised its yearly nett forecast connected Thursday, buoyed by beardown request for its telephone and net services and arsenic much Americans upgraded to 5G plans.

The institution has doubled down connected promotional activities to adhd subscribers successful a highly competitory telecoms marketplace wherever customers are cutting backmost connected discretionary spending owed to decades-high inflation.

AT&T added 708,000 nett caller monthly measure paying wireless telephone subscribers successful the 3rd quarter, surpassing Factset estimates of 552,300 additions.

The institution present expects adjusted nett per stock for the afloat twelvemonth to beryllium $2.50 oregon higher compared with earlier expectations of $2.42 to $2.46 per share.

In the 3rd quarter, AT&T's full gross roseate 3% to $30 billion, exceeding expectations of $29.86 billion, according to Refinitiv data.

Adjusted net per stock came successful astatine 68 cents per share.

Share of the institution were up 1.8% successful premarket trading.

Reporting by Eva Mathews and Savyata Mishra successful Bengaluru; Editing by Arun Koyyur

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