AT&T tops targets for new wireless subscribers as bundle offers spur demand
T•Revenue and cash flow results
For the second quarter, total revenue stood at $31.6 billion, compared with estimates of $31.80 billion, according to data compiled by LSEG.
Adjusted earnings per share came in at 65 cents, compared with analysts' average estimate of 59 cents.
AT&T reported free cash flow of $4.7 billion for the quarter, above Visible Alpha estimates of $4.43 billion.
Bundling strategy continues to drive growth
The gains build on AT&T's broader convergence strategy of selling multiple connectivity services to the same household to reduce churn and increase customer lifetime value as U.S. telecom providers chase the same finite pool of users.
AT&T in March launched OneConnect, a single subscription that bundles unlimited wireless service with home internet under one monthly bill.
It has also rolled out customizable Build-A-Plan options and new entry-level wireless plans with more high-speed data, while continuing to invest aggressively in expanding its fiber network.
About 42.5% of homes using AT&T's advanced internet services are also subscribing to its wireless.
