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AT&T’s Q1 Operating Cash Flow and Free Cash Flow Got A Boost – Does It Make A Case For Higher Dividends?

AT&T reported Q1 operating revenues of $30.03B, down 0.4%, missing consensus of $30.54B. Adjusted EPS of $0.55 beat consensus of $0.54. Mobility segment saw 741K wireless net adds. AT&T reiterated FY24 outlook of Wireless service revenue growth of 3%, Broadband revenue growth of 7%+, and adjusted EPS of $2.15-$2.25.

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