AT&T reported third-quarter revenue of $32.3 billion and adjusted EPS that both beat expectations, and raised its full-year adjusted EPS outlook, yet its stock fell 5% to $22.35. Reported EPS trailed the adjusted figure sharply because of a non-cash impairment tied to its Mexico wireless business, which AT&T agreed to sell earlier this month. Verizon and T-Mobile also fell 3%, as selling spread across the carrier group. SpaceX agreed to buy a nationwide spectrum portfolio from Grain Management to support its Starlink Mobile service, a deal that requires FCC approval. The article says AT&T's fiber bundle is its main defense, and the FCC decision is the next key test.
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