AT&T Shares Climb on Subscriber Additions. Should Investors Add the Stock to Their Portfolios?
Share prices of AT (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's Q2 results and determine whether now is a good time to buy the stock.
For the quarter, AT 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.
Source Fool.com
