March 10 (Reuters) - AT&T T.N forecast first-quarter adjusted profit in line with analysts' estimates on Monday, signaling steady demand for its discounted premium plans combining 5G mobile with high-speed fiber data.
The U.S. telecom giant has been investing in its high-speed fiber internet offerings to help drive faster subscriber and revenue growth, at a time when the pool of potential new wireless customers shrinks in the United States.
On an adjusted basis, the company expects per-share earnings of 48 cents or higher excluding DIRECTV, compared with estimates of 49 cents, according to data compiled by LSEG.
AT&T, which acquired DirecTV in 2015, said last year in September that it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG TPG.O, exiting a business marked by declining distributions for the telecom operator. The deal is expected to close in mid-2025.
The company said on Monday it expects to receive about $1.4 billion to $1.5 billion of cash payments from DIRECTV related to this deal.
AT&T also reaffirmed its annual adjusted profit forecast in the range of $1.97 to $2.07 per share.
(Reporting by Kritika Lamba in Bengaluru; Editing by Alan Barona)
((Kritika.Lamba@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.