AT&T reported a significant increase in its quarterly profits, surpassing analysts' expectations, driven by the addition of 401,000 net monthly bill-paying wireless subscribers in the second quarter. This growth was attributed to the popularity of its discounted bundled plans that combine 5G mobile and high-speed fiber services. The company's revenue reached $30.8 billion, exceeding the forecast of $30.50 billion, while adjusted earnings per share also surpassed expectations, indicating strong operational performance.

The telecom giant plans to invest approximately $3.5 billion from tax savings resulting from the recent tax reforms to accelerate its fiber network expansion. This strategic move is crucial as the wireless market becomes increasingly saturated. AT&T anticipates total cash tax savings of $6.5 billion to $8 billion through 2027, which will enhance its financial flexibility and support its competitive positioning against rivals like Verizon and Comcast.