AT&T Second Quarter Beats Expectations

Published on: 25 Jul, 2019

On Tuesday, AT&T (NYSE: T) announced its Q2 earnings that beat analysts' estimates on revenue and reached profit expectations.

The company reported USD 44.9 Billion in revenue vs. expectations of USD 44.7 Billion. AT&T saw USD 39 Billion in the same quarter last year. Earnings per share were adjusted at USD 89 cents per share, the same as analysts’ estimates. That was down from USD 91 cents per share in the same quarter last year.

The stock, which closed at USD 32.09 on the New York Stock Exchange on Tuesday, but was lower in pre-market hours.

The Dallas company lost about 778,000 “premium video” subscribers this quarter. According to the Wall Street Journal, Chief Executive Randall Stephenson earlier this year told investors the company expects to keep losing pay-TV customers through 2019 as it cut backs on promotions. That's more than the 627,000 subscribers the company lost in Q1.

On the bright side, AT&T's postpaid plans’ cellular subscribers increased by 72,000. Total revenue in the wireless business was USD 17.5 Billion, including a 2.4% increase in service revenues.

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Gordon Wang

Email: gordon@financialinsiders.com

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