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ATT Q3 earnings iPhone promotions: AT&T surprised the market by adding more wireless subscribers than expected in the third quarter. The company’s bundled offers and strong iPhone promotions drew in a wave of new customers.
For U.S. wireless carriers, the September quarter is always intense, as Apple’s annual iPhone launch fuels fierce competition.
AT&T, much like its competitors, rolled out tempting offers for the new iPhone 17 series. The goal was to bring in fresh customers and persuade current users to upgrade to more premium plans.
The strategy paid off — AT&T gained 405,000 postpaid wireless subscribers, surpassing the expected 334,100 additions, according to FactSet.
AT&T has been offering discounted bundles that combine wireless and fiber broadband services. The move has encouraged customers to sign up for more than one service and has helped cut down on churn.
More than 41% of fiber users have also chosen to add a mobile plan. Investors have been paying close attention to AT&T’s latest efforts to expand its network strength.
The company recently revealed a massive $23 billion agreement to buy wireless spectrum licenses from EchoStar. In the third quarter, AT&T’s equipment revenue grew 6.1%, driven by stronger phone sales.
Costs in the mobility segment rose 3.8%, as the company spent more on higher-priced devices, marketing, and promotions. The business wireline unit saw revenue fall 7.8%, weighed down by declines in traditional voice and data services.
Adjusted earnings came in at 54 cents per share, in line with analyst expectations, according to LSEG. Total revenue reached $30.7 billion, slightly below the projected $30.87 billion.
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