AT&T beats wireless subscriber additions estimate on 5G demand

AT&T Inc on Thursday beat analysts’ estimates for monthly phone bill paying subscriber additions in the second quarter, fueled by more Americans converting to 5G phones.

The company, which also raised its full-year revenue and adjusted earnings per share growth forecasts, added 789,000 net new postpaid phone subscribers during the quarter, above FactSet estimates of 278,000.

The wireless carrier had lost 151,000 subscribers in the year-ago quarter at the height of the pandemic.