AT&T: 2Q Earnings Snapshot
Posted Jul 23, 2020 08:16:44 AM.
Last Updated Jul 23, 2020 08:24:23 AM.
This article is more than 5 years old.
DALLAS (AP) _ AT&T Inc. (T) on Thursday reported second-quarter profit of $1.28 billion.
The Dallas-based company said it had profit of 17 cents per share. Earnings, adjusted for asset impairment costs and amortization costs, came to 83 cents per share.
The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.
The telecommunications company posted revenue of $40.95 billion in the period, which did not meet Street forecasts. Fifteen analysts surveyed by Zacks expected $41.16 billion.
AT&T shares have fallen 23% since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 1%. The stock has decreased 6% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on T at https://www.zacks.com/ap/T
The Associated Press
