Are you looking to get into communications investing? If so, you should know what’s been happening in the sector as of late. After the closing bell on Tuesday, AT&T’s second quarter earnings report was released, and it surpassed analysts’ expectations.
Before we dive in, here’s a quick overview on how AT&T (NYSE:$T) did compared to what Wall Street forecast:
- Earnings Per Share: 79 cents versus 73 cents, according to Thomson Reuters
- Revenue: $39.84 billion versus $39.79 billion, according to Thomson Reuters
- Wireless net adds: 2.8 million versus 1.08 million, according to StreetAccount
Once AT&T’s second quarter earnings report was released to the public, the company’s stock increased nearly 3%.
“Once again our team delivered expanding consolidated margins and, as a result, grew adjusted earnings per share by nearly 10% as we executed well against our business priorities,” AT&T CEO Randall Stephenson said in a statement.
Even though AT&T lost 199,000 subscribers, the loss was counterbalanced by gains in its DirecTV Now online streaming service. According to the Texas-based company, the total number of video subscribers was essentially flat from 2016.
AT&T has maintained its full-year guidance for 2017, and Wall Street predicts an EPS of $2.89 with an overall revenue of $161.06 billion.
It’s worth mentioning that AT&T’s stock has dropped about 15% in 2017, and the company reached a 52-week intraday low of $35.81 last week.
Featured Image: twitter
