AT&T (NYSE:T)'s Chief Financial Officer, Pascal Desroches, recently provided the company's financial projections for the third quarter at an industry conference. The telecommunications giant anticipates generating between $4.5 billion and $5 billion in free cash flow for the quarter ending in September, a disclosure that has led to a surge in AT&T's stock value.
Desroches also reiterated the company's full-year free cash flow guidance of $16 billion or more, a target initially set at the beginning of the year. Throughout 2023, AT&T has consistently upheld this financial forecast during various earnings calls and conferences, further reinforcing investor confidence in the company's financial performance.
The financial forecast was unveiled during an industry conference hosted by Bank of America, where AT&T had the opportunity to share its financial insights and expectations. This recent announcement has sparked optimism about AT&T's fiscal health in the current quarter, and has been met with positive reactions from investors.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.