AT&T beats Q1 estimates for wireless subscriber additions, free cash flow

AT&T surpassed Wall Street expectations for first-quarter wireless subscriber additions and free cash flow on Wednesday as more people purchased its higher-tier unlimited plans.

Shares of the company were up 2.4% in early trading.

The telecom giant has been leaning on its 5G rollouts and plans that are usually cheaper than rivals such as Verizon to appeal to more budget-conscious consumers and drive growth in the competitive U.S. market.

AT&T added 349,000 net monthly bill-paying wireless phone subscribers in the first quarter, flying past expectations of 286,800 additions, according to five analysts polled by FactSet.