AT&T Inc. has hit a major milestone that is music to investors’ ears. The company announced it had reached its target leverage ratio, which means it can now start share repurchases sooner than initially expected. This news sent AT&T’s stock price soaring. Additionally, the company surpassed subscriber expectations by a significant margin, with 324,000 postpaid phone net additions in the first quarter.
In contrast to March when investors were concerned about the January weakness, AT&T has shown resilience and delivered impressive results. Analysts had predicted 255,000 postpaid phone additions, but the actual figure far exceeded expectations. This positive news suggests that AT&T is back on track and ready to move forward with its share repurchase program.
Source: https://www.marketwatch.com/story/at-ts-stock-pops-as-the-company-hits-a-milestone-that-matters-for-investors-b0ad3b53