LONDON (ShareCast) - (Sharecast News) - American telecoms giant AT&T reiterated its full-year guidance after beating revenue expectations in a "solid" first quarter, helped by higher phone and fibre broadband subscribers.
Revenues totalled $30.6bn over the first three months of the year, up 2% on last year and comfortably above the $30.36bn consensus estimate.

The company said the increase was due to higher Mobility and Consumer Wireline revenues, partially offset by declines in Business Wireline and in Mexico, which was affected by unfavourable foreign exchange movements.

AT&T reported a 324,000 net increase in postpaid phone subscribers, and a 261,000 net increase in AT&T Fiber adds.

Adjusted operating income rose to $6.4bn, from $6.0bn a year earlier, with adjusted earnings per share coming in line with analysts' forecasts at 51 cents.

Looking ahead, AT&T said it still expected adjusted EBITDA growth of "3% or better" in 2025, helped by consolidated service revenue growth in the low-single-digit percentage range.

"Our business fundamentals remain strong, and we are uniquely positioned to win in this dynamic and competitive market," said John Stankey, AT&T's chair and chief executive.

"The priorities we laid out at our 2024 Analyst & Investor Day have not changed, and we continue to operate our business to achieve the financial plan and capital returns we outlined in December."

The company said in December that it expects to return at least $40bn to shareholders by way of dividends and share buybacks over the next three years, including a $10bn repurchase programme expected to complete before the end of 2026.

The stock was up 0.6% at $27.10 by 1104 in New York.

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