AT&T raises profit forecast to $2.40 per share — Channel NewsAsia

US telecommunications company AT&T raised its annual adjusted earnings forecast to about $2.40 per share after third-quarter results exceeded market expectations. The company had previously forecast adjusted earnings of between $2.25 and $2.35 per share. This was reported by Channel NewsAsia.

Quarterly results

AT&T's third-quarter revenue rose 5.3% year-on-year to $32.3 billion. Analysts had expected $31.69 billion, according to LSEG. Adjusted earnings per share were 65 cents, while the market had forecast 60 cents.

Sales growth was supported by revenue from mobile services and equipment, as well as higher postpaid revenue in Latin America. The number of new mobile subscribers who pay monthly bills increased by 379,000 during the quarter. FactSet's estimate had projected 379,300 such additions.

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Bet on bundled services and fiber

AT&T expects to sustain growth through bundled internet and mobile offerings. About 43% of households subscribing to the company's internet service also choose its mobile plans. The company estimates that this helps retain customers as competition in the US telecommunications market intensifies.

The company is also expanding its fiber network. Last month, it signed a multiyear agreement with Corning to supply fiber and cables worth more than $3 billion. In May 2025, AT&T acquired Lumen's fiber business for $5.75 billion. In the third quarter, the company added 442,000 new fiber internet users and 327,000 new fixed wireless access subscribers.