The AT&T logo is pictured during the Forbes Forum 2017 in Mexico City, Mexico, September 18, 2017.
REUTERS/Edgard Garrido/File Photo Acquire Licensing RightsOct 19 (Reuters) - U.S. wireless carrier AT&T (T.N) raised its annual free cash flow forecast on Thursday as promotions and phone upgrades boosted subscriber additions that trounced third-quarter estimates, sending its shares up nearly 5% before the bell.
The company expects free cash flow of about $16.5 billion in 2023, up from its prior forecast of $16 billion or higher.
It added 468,000 net monthly bill-paying wireless phone subscribers in the third quarter, surpassing expectations for 398,200 additions, according to Factset.
The company raised its forecast for full-year adjusted core earnings growth to more than 4%, from a prior view of 3% or more.
Persons:
Edgard Garrido, Jamie Lumley, Samrhitha, Arun Koyyur
Organizations:
Forbes, REUTERS, AT, Revenue, U.S, Thomson
Locations:
Mexico City, Mexico, Bengaluru