AT&T logged higher profit and revenue in the first quarter, boosted in part by an increase in acquired customers and a spur of upgrades in response to tariffs. “Upgrades have trended higher than expected since the announcement of the reciprocal tariffs in early April,

AT&T (T) shares jumped in premarket trading Wednesday after the telecommunications giant reported first-quarter revenue and net phone subscriber additions above analysts' estimates. The Dallas-based firm posted adjusted earnings per share (EPS) of $0.