“We expect to move past elevated capital investment levels as we exit the year.”

In context

“er capitalized interest, higher effective tax rate, and lower DIRECTV equity income, all of which we expected. Cash from operating activities was $10.3 billion in the quarter and $26.9 billion year-to-date. This is an increase of $1.5 billion year-to-date, primarily driven by higher receipts due to revenue growth and lower disbursements, including personnel costs and device payments. This growth comes at the same time as we saw a lower year-over-year net impact of receivable sales of about $1 billion year-to-date and higher cash taxes of about $350 million year-to-date. This shows the underlying strength of the organic cash flow occurring in our business. Capital investment was $5.6 billion in the quarter and this reflects continued historically high levels of investments in 5G and fiber. We expect to move past elevated capital investment levels as we exit the year. We feel really good about free cash flow of $5.2 billion in the quarter. Through the first three quarters, our free cash flow was $10.4 billion, up $2.4 billion versus the same period a year ago. We're also now tracking to about $16.5 billion free cash flow for the full year. Now let's turn to our Mobility results on the next slide. Looking at our Mobility results, postpaid phone net adds were 468,000. Total revenues and operating income in our largest business unit are at all-time highs. Revenues were up 2% and service revenues were up 3.7%. These gains were driven by subscriber growth and higher postpaid phone ARPU. Year-to-date wireless service revenues have grown 4.6% and we continue to feel really good about the performance of our wireless business. Mobility EBITDA was up 7.6% in the”