AT&T Inc

T: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$34.00	Wtczw	Flr

AT&T Earnings: Wireless Customer Gains and Margin Expansion Continue to Drive Cash Flow

Michael Hodel

Jul 24, 2024

AT&T’s wireless network outage earlier this year and the data breach during the second quarter had no discernible impact on wireless customer growth. Profitability also continued to improve across most of the business, and free cash flow generation was solid. We are maintaining our $23 fair value estimate, and we believe the shares are undervalued.

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