2024-01-04 07:55:00 ET
There's a disconnect between AT&T (NYSE: T) the stock and AT&T the company. While investors have punished the telecom stock over the past few years, sending shares down about 30% since the start of 2021, the company itself has been doing just fine. Mostly free from its failed adventure in the media industry, AT&T is now focused on its wireless and fiber internet businesses.
While AT&T's pace of subscriber wins fluctuates quarter to quarter and has slowed down as the state of the economy has taken a toll on consumers, zooming out and looking at the past two years paints a clear picture. The total number of subscribers and connections on AT&T's wireless network has risen by 20% between September 2021 and September 2023 to about 236 million.
The number of postpaid subscribers has jumped 7.6% in that time to 86.4 million, while the number of connected devices has soared 35% to 122.7 million. The prepaid subscriber count has grown slightly, as has the reseller subscriber count.
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