AT&T Trades Lower in the Wake of Q1 Earnings - AT&T (NYSE:T)

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AT&T

(NYSE: T) released its fiscal first-quarter earnings results on Tuesday after the closing bell. In late trade, AT&T shares had lost roughly 2 percent to $38.15. The company reported earnings per share that were in-line with consensus expectations and sales that just missed street estimates. AT&T said that its first-quarter net income was $3.70 billion or $0.67 per share, compared to $3.58 billion or $0.60 per share, in last year's corresponding period. On an adjusted basis, which is comparable to analysts' consensus, the company reported EPS of $0.64 versus $0.59 last year. This was in-line with analysts' consensus EPS estimates of $0.64. Revenue for the quarter fell 1.5 percent to $31.35 billion versus $31.82 billion in the year ago quarter. This came in slightly below analysts' consensus sales estimates of $31.74 billion.