Market Overview

AT&T Q2 Profit Tops Estimates


AT&T Inc. (NYSE: T) reported stronger-than-expected earnings for its second quarter on Thursday.

The Dallas, Texas-based company posted quarterly net income of $3.04 billion, or $0.58 per share, down from $3.55 billion, or $0.68 per share, in the year-earlier period. Excluding items, the company's earnings rose to $0.69 per share from $0.62 per share.

Its consolidated revenue rose 1.4 percent year-over-year to $33.0 billion. However, analysts were expecting earnings of $0.63 per share on revenue of $33.04 billion.

The average estimate among 37 Estimize users was for earnings of $0.63 per share and revenue of $33.02 billion.

The company added 2.1 million new wireless subscribers during the quarter, including 410,000 postpaid and 331,000 prepaid.

Its strategic business services revenue climbed 13 percent year-over-year to $2.7 billion.

Its operating expenses increased to $27.3 billion from $27.0 billion, while operating income rose to $5.7 billion in the latest quarter from $5.6 billion in the year-ago quarter.

Cash from operating activities totaled $9.2 billion in the quarter.

"These results reaffirm our transformation strategy," said Randall Stephenson, AT&T chairman and CEO. "We grew revenues, expanded margins and delivered double-digit adjusted EPS and cash flow growth. We added more than 2 million new wireless subscribers as the repositioning of our smartphone base nears completion. We also began expanding high-quality, high-speed wireless service to Mexican consumers and businesses.

AT&T shares gained 0.56 percent to $34.10 in the after-hours trading session.

Posted-In: profitEarnings News


Related Articles (T)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Advanced Trading: Choosing Your Iron Condor Strike Price

TrueCar Q2 Prelims Revs $65M-$65.3M, Est $68.62M