AT&T Reports Third-Quarter Results

AT&T's core wireless business overshot its expectations during the third quarter of 2022, driving higher revenue and profits despite lingering worries about inflation. The company added 708,000 postpaid phone connections, a metric that investors use to measure the strength of a cellphone carrier’s main profit center. For the third consecutive quarter, the tally handily topped projections of Wall Street analysts, who had been expecting 552,300 connections in the third quarter. AT&T has added more than 2.2 million wireless subscribers through three quarters, which it said it expected to top rivals. It also added 338,000 customers to its fiber-optic network in the third quarter. Additionally, AT&T emphasized that building new fiber optic lines remains a priority for the company.