AT&T Q2 Results Were Mixed, Says Wells Fargo Analyst

AT&T Q2 results were mixed, Wells Fargo’s Jennifer Fritzsche told investors Thursday. AT&T reported Wednesday (see 1907240053). “With exception of wireless phone adds, sub trends were weaker than expected but the EBITDA & [free-cash flow] beat -- offering evidence of AT&T’s focus on profitable customer relationships is paying off.” Video subscriptions will continue to see declines as AT&T “works through the remaining [one million] subs left on pricing promotions and as it prepares for its launches of AT&T TV,” she said. AT&T was upgraded Thursday by analysts at Credit Suisse from “underperform” to “neutral.”