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AT&T (T) Misses Earnings But Raises Guidance, Shares Downs 1.4%
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AT&T Inc. (T - Free Report) just released its latest quarterly results, posting earnings of $0.81 per share and revenues of $39 billion.
Currently, T is a Zacks Rank #2 (Buy), but that could change based on today’s results.
Investors should note that T’s consensus earnings projection has trended downward over the course of the quarter, but recently taken an upward turn. The firm has seen 8 negative estimates for this quarter in the last month, with 2 coming in just the last week. However, it has seen a nearly even split in positive and negative revisions across the next quarter, current year, and next year. But because a majority of recent revisions are positive, the stock’s rank has seen a boost.
Investors should also note that our consensus estimate for T’s earnings has seen negative movement in the last month, ticking down a penny to $0.86 per share for the quarter.
Shares of the company have shed 0.5% over the past month but were up 2.2% during regular trading hours today.
However, the stock is currently down about 1.4% to $31.05 per share in after-hours trading shortly after its earnings report was released.
T:
Missed earnings estimates. The company reported diluted earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.86 per share but up 29% year-over-year.
Missed revenue estimates. The company saw revenue figures of $39 billion, lagging behind our consensus estimate of $39.25 billion.
“It was an exciting quarter for AT&T as we completed the acquisition of Time Warner on June 14 and created a modern media company built around premium content, 170 million direct-to-customer relationships, advertising technology and high-speed networks,” said Randall Stephenson, AT&T chairman and CEO.
Although AT&T missed earnings estimates, it raised its guidance for the year. T now expects adjusted EPS at the high end of the $3.50 range, free cash flow at the high end of $21 billion range (inclusive of all deal and integration costs), and capital investment of approximately $25 billion.
Here’s a graph that looks at T’s recent earnings performance:
Based in Dallas, Texas, AT&T Inc. is the second largest wireless service provider in North America. Through its subsidiaries and affiliates, the company offers a wide range of communication and business solutions that include wireless, local exchange, long-distance, data/broadband and internet, video, managed networking, wholesale and cloud-based services.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
Image: Bigstock
AT&T (T) Misses Earnings But Raises Guidance, Shares Downs 1.4%
AT&T Inc. (T - Free Report) just released its latest quarterly results, posting earnings of $0.81 per share and revenues of $39 billion.
Currently, T is a Zacks Rank #2 (Buy), but that could change based on today’s results.
Investors should note that T’s consensus earnings projection has trended downward over the course of the quarter, but recently taken an upward turn. The firm has seen 8 negative estimates for this quarter in the last month, with 2 coming in just the last week. However, it has seen a nearly even split in positive and negative revisions across the next quarter, current year, and next year. But because a majority of recent revisions are positive, the stock’s rank has seen a boost.
Investors should also note that our consensus estimate for T’s earnings has seen negative movement in the last month, ticking down a penny to $0.86 per share for the quarter.
Shares of the company have shed 0.5% over the past month but were up 2.2% during regular trading hours today.
However, the stock is currently down about 1.4% to $31.05 per share in after-hours trading shortly after its earnings report was released.
T:
Missed earnings estimates. The company reported diluted earnings of $0.81 per share, missing the Zacks Consensus Estimate of $0.86 per share but up 29% year-over-year.
Missed revenue estimates. The company saw revenue figures of $39 billion, lagging behind our consensus estimate of $39.25 billion.
“It was an exciting quarter for AT&T as we completed the acquisition of Time Warner on June 14 and created a modern media company built around premium content, 170 million direct-to-customer relationships, advertising technology and high-speed networks,” said Randall Stephenson, AT&T chairman and CEO.
Although AT&T missed earnings estimates, it raised its guidance for the year. T now expects adjusted EPS at the high end of the $3.50 range, free cash flow at the high end of $21 billion range (inclusive of all deal and integration costs), and capital investment of approximately $25 billion.
Here’s a graph that looks at T’s recent earnings performance:
AT&T Inc. Price, Consensus and EPS Surprise
AT&T Inc. Price, Consensus and EPS Surprise | AT&T Inc. Quote
Based in Dallas, Texas, AT&T Inc. is the second largest wireless service provider in North America. Through its subsidiaries and affiliates, the company offers a wide range of communication and business solutions that include wireless, local exchange, long-distance, data/broadband and internet, video, managed networking, wholesale and cloud-based services.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>