AT&T beats earnings thanks to best wireless first quarter in over 10 years

From CNET: AT&T continued its momentum from a strong fourth quarter, announcing on Thursday that it beat first-quarter earnings expectations thanks to strong performance from its wireless, fiber and WarnerMedia businesses.

The company reported revenues of $43.9 billion for the quarter, beating the $42.69 billion expected by analysts polled by Yahoo Finance. Adjusted earnings per share came in at $0.86, ahead of the $0.78 analysts expected.

Behind the growth was what AT&T touted as the "strongest" quarter it had for wireless postpaid phone net additions in over 10 years. In the quarter the carrier had 823,000 postpaid additions, of which 595,000 were phone net adds. Postpaid users, who pay their phone bills at the end of the month, are valued more highly by the investment community as a key metric of a carrier's success.

Since dropping behind T-Mobile last year, AT&T has gotten more aggressive with promotions as the smallest of the US' three major wireless carriers. Those promotions, which now often offer discounts to both new and existing customers to upgrade devices, seem to be paying off.

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