AT&T Rises Slightly After Q3 Results
AT&T's (NYSE: T) third-quarter results have not inspired much investor activity Wednesday afternoon.
The company is currently up less than one percent in after hours trading. This jump came after closing up 0.14 percent this afternoon, adding $0.05 to shares of AT&T.
AT&T's Q3 EPS came in at $0.66 versus the Street estimate of $0.65. Earnings per share were up five percent from the year-ago period.
Revenue came in at $32.2 billion versus the Street estimate of $32.19 billion. Sales were up two percent year-over-year.
"We're setting the standard for 4G LTE speeds and network reliability," Randall Stephenson, AT&T chairman and CEO, said in a company release. "Our fiber and U-verse expansion projects are ahead of schedule bringing high-speed broadband to millions more customers. With these initiatives, we're seeing excellent growth across our major platforms — mobility, U-verse and strategic business services."
Year-to-date, AT&T's performance has been a bit disappointing. The company still continues to command one of the highest ARPUs (average revenue per user) in the industry, but Wall Street has been wary of its success. The carrier jumped to a year high of $39 a share on April 23, but its shares have been dropping fairly steadily ever since.
There have been signs of growth this month, which has helped the company rise slightly. But the stock is up less than one percent this year. That's not exactly the kind of growth that investors desire.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
Louis Bedigian is the Senior Tech Analyst and Features Writer of Benzinga. You can reach him at louis(at)benzingapro(dot)com. Follow him @LouisBedigianBZ
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.