AT&T’s latest earnings report reveals its fiber expansion strategy is generating positive results.
The company added more than 200,000 new fiber subscribers in the first quarter.
AT&T now has a total of 8.6 million fiber customers across its network.
These gains contributed to a 7.7% increase in consumer broadband revenue.
The growth comes as more customers opt to bundle internet and wireless service.
AT&T reported it added 349,000 postpaid phone subscribers during the quarter.
Wireless service revenue climbed 3.3%, reaching $16.4 billion.
The company’s fiber network now passes 25.5 million locations.
AT&T plans to expand fiber to more than 30 million locations by the end of 2025.
The earnings beat analyst expectations, with adjusted earnings per share of $0.55.
Revenue totaled $30 billion, slightly above Wall Street forecasts.
The company also raised its full-year free cash flow guidance to $17 billion or more.
AT&T’s focus on fiber and wireless bundling appears to be strengthening customer loyalty.
