AT&T subscriber growth tops analyst expectations, stock jumps


A pedestrian walks in front of an AT&T location in New York.

Scott Mlyn | CNBC

AT&T shares jumped on Wednesday after the carrier reported fourth-quarter subscriber growth that exceeded Wall Street’s estimates, shrugging off its rivals’ lower pricing strategies.

The U.S. phone service provider added 217 million total subscribers across all of its divisions for the fourth quarter, beating StreetAccount estimates of 215 million. New phone subscribers specifically, however, missed analyst expectations, coming in at 656,000 net adds, versus an estimate of 678,400, according to StreetAccount.

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Shares of AT&T closed 6% higher Wednesday, trading at $20 per share.

The company has…

Source cnbc.com

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