By - Mridul Gogoi
- AT&T reported a revenue of US$ 29.6 billion from continuing operations.
- AT&T said it added new customers by expanding fiber and 5G wireless network.
- AT&T is of the top communication services providers.
AT&T Inc. (NYSE: T) posted its second-quarter earnings report on Thursday and reported a revenue of US$ 29.6 billion from continuing operations. However, it was down by 17.1 per cent from US$ 35.7 billion in the year-ago quarter.
While AT&T raised its forecast for its mobility revenue, it reduced the full-year cash flow to divert its funds to expand the 5G network.
Notably, the mobility revenue grew 5.2 per cent year-over-year (YoY) to US$ 19.9 billion, riding on higher equipment and services growth. Meanwhile, the service revenues increased by 4.6 per cent from Q2 2021 to US$ 15 billion, mainly driven by growth in the subscriber base.