Why AT&T Stock Soared This Week
Shares of AT&T (NYSE: T) leaped 14% this past week, according to data from S&P Global Market Intelligence. Investors applauded the wireless leader's third-quarter growth metrics released on Thursday.
AT&T added 708,000 postpaid phone subscribers during the quarter, bringing its total year-to-date additions to more than 2.2 million. Postpaid subscribers pay monthly bills and are generally the most profitable customers for telecom companies.
AT&T's gains look even more impressive when stacked against fellow wireless company Verizon's (NYSE: VZ) results. Verizon added only 8,000 postpaid phone subscribers during the third quarter. AT&T thus appears to be winning market share at a significantly faster clip than its archrival in this important customer segment.
Source Fool.com
