AT&T up 1.5% Pre-Market on Strong Q1 Profit

AT&T

is trading higher pre-market following its Q1 earnings announcement this morning. The company reported an EPS of $0.60 vs $0.57 estimate and revenues $31.8 billion vs $31.85 billion estimates. Randall Stephenson, AT&T chairman and chief executive officer stated: “We continue to capitalize on our terrific momentum in mobile Internet. Smartphone and branded computing device sales continue to set a record pace, mobile data revenues were up nearly 20 percent, and we achieved this growth with expanding margins. These results add confidence in our outlook for the year.” AT&T is currently trading at $1.08, up $0.47 or 1.54% pre-market.