AT&T and Verizon Navigate Subscriber Growth Amid Revenue Challenges

Both telecom giants report increased wireless subscribers but face setbacks due to lower phone upgrades and rising costs.

AT&T added 403,000 net wireless subscribers in Q3, surpassing estimates, driven by demand for premium unlimited plans.
Verizon gained 239,000 wireless subscribers, exceeding expectations, with flexible 5G plans and streaming service bundles.
Despite subscriber growth, AT&T's revenue of $30.2 billion and Verizon's $33.3 billion both missed analyst estimates due to reduced phone upgrades.
AT&T's fiber business was affected by a work stoppage, while Verizon's equipment sales declined amid high interest rates.
Verizon's acquisition of Frontier Communications aims to bolster its broadband expansion, as it plans increased capital expenditure for network growth.