AT&T (T) shares rose by more than 7% in recent Thursday trading after the company logged Q3 results that beat Wall Street’s expectations.
The company posted Q3 adjusted earnings from continuing operations of $0.64 per diluted share, down from $0.68 a year earlier.
Analysts polled by Capital IQ expected $0.62.
Operating revenue for the quarter ended Sept. 30 was $30.35 billion, up from $30.04 billion a year earlier. Analysts surveyed by Capital IQ expected $30.24 billion.
The company said it now anticipates 2023 adjusted earnings before interest, taxes, depreciation and amortization growth of more than 4% versus its prior guidance of over 3%. Free cash flow for the year is now expected to be roughly $16.50 billion versus AT&T’s prior outlook of at least $16 billion, the company said.