AT&T Inc. (T - Free Report) just released its third quarter fiscal 2017 financial results, posting adjusted earnings of 74 cents per share and revenues of $39.7 billion. Currently, T is a Zacks Rank #3 (Hold), and is down 1.66% to $34.28 per share in trading shortly after its earnings report was released.
AT&T:
Missed earnings estimates. The company posted adjusted earnings of 74 cents per share, just missing the Zacks Consensus Estimate of 75 cents per share. Net income attributable to AT&T was $3 billion for the quarter.
Missed revenue estimates. The company saw consolidated revenue figures of $39.7 billion, lagging a bit behind our consensus estimate of $40.27 billion.
The company reported 3 million total wireless net adds for the quarter, 2.3 million in the U.S. and nearly 700,000 in Mexico. U.S. net adds were driven by connected devices, prepaid and postpaid.
AT&T had best-ever Q3 postpaid phone churn of 0.84%, which shows the success of its video and wireless bundling strategy.
The company also expanded its operating income margin of 30.5%, with best-ever EBITDA margins of 42% and wireless service margin of 50.4%.
“We look forward to closing our acquisition of Time Warner and bringing together premium content with world-class distribution to deliver a better entertainment experience for consumers and more effective targeted advertising,” said Randall Stephenson, AT&T Inc. chairman and CEO. “We’re also on track to have one of the largest high-speed internet networks in the U.S., reaching more than 50 million customer locations with competitive high speeds. This expansion will make our bundled video, mobile and broadband services even more compelling.”
AT&T maintains its full-year guidance.
AT&T is a premier telecom company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the U.S. and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation's fastest 3G network and the best wireless coverage worldwide, and the nation's leading high-speed Internet access and voice services.
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AT&T Inc. (T - Free Report) just released its third quarter fiscal 2017 financial results, posting adjusted earnings of 74 cents per share and revenues of $39.7 billion. Currently, T is a Zacks Rank #3 (Hold), and is down 1.66% to $34.28 per share in trading shortly after its earnings report was released.
AT&T:
Missed earnings estimates. The company posted adjusted earnings of 74 cents per share, just missing the Zacks Consensus Estimate of 75 cents per share. Net income attributable to AT&T was $3 billion for the quarter.
Missed revenue estimates. The company saw consolidated revenue figures of $39.7 billion, lagging a bit behind our consensus estimate of $40.27 billion.
The company reported 3 million total wireless net adds for the quarter, 2.3 million in the U.S. and nearly 700,000 in Mexico. U.S. net adds were driven by connected devices, prepaid and postpaid.
AT&T had best-ever Q3 postpaid phone churn of 0.84%, which shows the success of its video and wireless bundling strategy.
The company also expanded its operating income margin of 30.5%, with best-ever EBITDA margins of 42% and wireless service margin of 50.4%.
“We look forward to closing our acquisition of Time Warner and bringing together premium content with world-class distribution to deliver a better entertainment experience for consumers and more effective targeted advertising,” said Randall Stephenson, AT&T Inc. chairman and CEO. “We’re also on track to have one of the largest high-speed internet networks in the U.S., reaching more than 50 million customer locations with competitive high speeds. This expansion will make our bundled video, mobile and broadband services even more compelling.”
AT&T maintains its full-year guidance.
AT&T is a premier telecom company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the U.S. and around the world. Among their offerings are the world's most advanced IP-based business communications services, the nation's fastest 3G network and the best wireless coverage worldwide, and the nation's leading high-speed Internet access and voice services.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation. See Them Free>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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