2024-07-29 04:55:00 ET
Share prices of AT&T (NYSE: T) were heading nicely higher after the wireless company saw solid subscriber additions and generated strong free cash flow when it reported its second-quarter results. The rally pushed the stock's gain for the year up to 14%.
Let's take a look a AT&T's Q2 results and determine whether now is a good time to buy the stock.
For the quarter, AT&T saw solid results in its wireless business, with 593,000 retail postpaid net additions in the quarter, including 419,000 retail postpaid phone additions. Mobility service revenue rose 3.4% to $16.3 billion, while overall Mobility revenue edged up 0.8% to $20.5 billion and equipment sales fell 8% to $4.2 billion. Postpaid phone average revenue per subscriber (ARPU) , meanwhile, rose from $55.63 a year ago to $56.42.
For further details see:
AT&T Shares Climb on Subscriber Additions. Should Investors Add the Stock to Their Portfolios?