Shares of AT&T Inc. were surging more than 7% Thursday as the company topped free-cash-flow expectations for its latest quarter and upped its full-year forecast for the closely watched metric.
The telecommunications giant posted $5.2 billion in free cash flow for the third quarter, exceeding the consensus view, which called for $4.8 billion. The company now expects about $16.5 billion in free cash flow for the full year, while it previously called for at least $16 billion.
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