AT&T misses 4Q phone subscriber estimates
Halo Investing's Jason Barsema on earnings season and the outlook for the markets.
(Reuters) - AT&T Inc on Wednesday missed fourth-quarter Wall Street estimates for net new wireless subscribers who pay a monthly bill, as the company struggled to attract customers in a saturated U.S. phone market.
The second-largest U.S. wireless carrier by subscribers faces competition from companies such as T-Mobile US Inc and Sprint Corp, who offer lower-priced phone plans.
AT&T gained a net 134,000 phone subscribers who pay a monthly bill, smaller than analysts' estimates of 208,000 subscribers, according to research firm FactSet.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| T | AT&T INC. | 23.08 | -0.02 | -0.09% |
| TMUS | T-MOBILE US INC. | 244.92 | +4.98 | +2.08% |
| S | SENTINELONE INC | 27.93 | +0.05 | +0.18% |
Total revenue in the fourth quarter rose 15.2 percent to $47.99 billion from $41.68 billion, missing analysts' estimates of $48.5 billion, according to IBES data from Refinitiv.
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(Reporting by Akanksha Rana in Bengaluru and Sheila Dang in New York)