AT&T Misses Revenue Estimates But Adds Mobile, Broadband Subscribers [Video]

AT&T (T) posted mixed first-quarter results Wednesday, missing revenue estimates but reporting additions to its mobile and internet subscriber base.

The company reported $30.03 billion in total revenue, shy of the $30.54 billion analysts expected, according to estimates compiled by Visible Alpha, as lower sales volumes and a 7.8% year-over-year revenue decrease in its Business Wireline division dragged AT&T’s top line.

Diluted earnings per share (EPS) of 47 cents fell short of expectations of 51 cents per share. However, adjusted EPS of 55 cents per share topped the estimated 54 cents per share.

AT&T added 349,000 wireless phone subscribers, bringing its total mobile subscriber base to 71.6 million, along with 252,000 new subscribers for its AT&T Fiber internet service, both of which are lower than AT&T posted in the first quarter of 2023.

Full-year guidance for 2024 was also affirmed, with AT&T projecting 3% growth to its wireless service revenue, along with growth of at least …