AT&T reported better-than-expected second quarter earnings due to 5G demand and customers upgrading their smartphones.
The company also raised its outlook for 2021 after it added 789,000 net new postpaid phone subscribers, well ahead of estimates. AT&T’s report landed a day after Verizon reported strong results due as revenue from selling devices surged amid a 5G upgrade cycle.
AT&T reported earnings of 21 cents a share on revenue of $44 billion, up 7.6% from a year ago. Adjusted non-GAAP earnings were 89 cents a share.
