By Connor Hart
AT&T logged higher profit and revenue in the first quarter, boosted in part by an increase in acquired customers.
The telecommunications company on Wednesday posted net income attributable to common stock of $4.4 billion, or 61 cents a share, compared with $3.4 billion, or 47 cents a share, a year earlier.
Adjusted per-share earnings came in at 51 cents, in line with the expectations of analysts polled by FactSet.
Revenue ticked up 2%, to $30.6 billion, ahead of the $30.36 million the analysts modeled.
The Dallas company notched 324,000 postpaid phone net adds during the quarter, in addition to 261,000 AT&T Fiber net adds.
AT&T said it plans to commence share repurchases in the current quarter, citing it is operating within its net leverage target of net debt-to-adjusted-Ebitda--or earnings before interest, taxes, depreciation and amortization--based on its reduction in net debt and outlook.
The company backed its 2025 guidance, which calls for adjusted per-share earnings of $1.97 to $2.07, slightly lower than analyst views for $2.08, according to FactSet.
AT&T also expects consolidated service revenue growth in the low-single-digit range and adjusted Ebitda growth of at least 3%.
"Our business fundamentals remain strong, and we are uniquely positioned to win in this dynamic and competitive market," Chief Executive John Stankey said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
April 23, 2025 06:31 ET (10:31 GMT)
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