AT&T banal was level Thursday arsenic June 4th net and gross topped expert estimates portion wireless postpaid telephone subscribers came successful good supra expectations.
The telecom company, which successful May agreed to merge its WarnerMedia business with Discovery (DISCA), said 2nd 4th adjusted nett roseate 7% to 89 cents from a twelvemonth earlier. AT&T (T) gross climbed 7.6% to $44 billion.
Analysts had projected AT&T net of 79 cents a stock connected gross of $42.64 billion. A twelvemonth earlier, AT&T banal earned 83 cents a stock connected gross of $41.1 billion.
In addition, AT&T said it added 789,000 postpaid wireless telephone customers vs. estimates for a 287,000 gain.
AT&T banal edged down 0.3% to 27.82 successful midday trading connected the stock marketplace today. Shares were somewhat up earlier successful the day.
AT&T Stock: WarnerMedia Rebounds From Pandemic Lockdown
Wireless work gross climbed 5% to $14.3 billion, topping estimates of $14.1 billion. WarnerMedia gross popped astir 31% to $8.8 cardinal from a twelvemonth earlier.
AT&T said it added 2.8 cardinal HBO and HBO Max streaming video subscribers successful the quarter. HBO and HBO Max ended the 4th with 47 cardinal subscribers, up astir 11 cardinal subscribers from a twelvemonth earlier.
AT&T precocious spun disconnected its DirecTV video concern into a caller institution successful a woody with backstage equity steadfast TPG.
The institution updated 2021 guidance. Excluding the DirecTV/TPG transaction, AT&T said it expects consolidated gross maturation successful the 2% to 3% scope and adjusted EPS to turn successful the low- to mid-single digits.
Despite its hefty dividend, AT&T banal holds a Relative Strength Rating of lone 17 retired of a best-possible 99.
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