AT&T: 2Q Earnings Snapshot
DALLAS (AP) _ AT&T Inc. (T) on Tuesday reported second-quarter profit of $5.13 billion.
The Dallas-based company said it had net income of 81 cents per share. Earnings, adjusted for non-recurring costs, were 91 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The telecommunications company posted revenue of $38.99 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $39.25 billion.
AT&T expects full-year earnings to be $3.50 per share.
AT&T shares have decreased 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.5 percent. In the final minutes of trading on Tuesday, shares hit $31.67, a fall of 13 percent in the last 12 months.