AT&T (T) Reports Q1 EPS of $0.84, Withdraws Guidance

April 22, 2020 6:52 AM EDT

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(Updated - April 22, 2020 6:55 AM EDT)

AT&T (NYSE: T) reported Q1 EPS of 0.84 compared to the analyst estimate of $0.85. Revenue for the quarter came in at $42.8 billion versus the consensus estimate of $44.21 billion.

  • Due to the uncertainty of the COVID-19 pandemic and recovery, we have withdrawn our prior financial guidance.

“The COVID pandemic had a 5 cents per share impact on our first quarter. Without it, the quarter was about what we expected — strong wireless numbers that covered the HBO Max investment, and produced stable EBITDA and EBITDA margins,” said Randall Stephenson, AT&T Chairman and CEO.

“We have a strong cash position, a strong balance sheet, and our core businesses are solid and continue to generate good free cash flow — even in today’s environment. In light of the pandemic’s economic impact, we’ve already adjusted our capital allocation plans and suspended all share retirements,” Stephenson said. “As a result, we’re able to continue investing in critical growth areas like 5G, broadband and HBO Max, while maintaining our dividend commitment and paying down debt.”

For earnings history and earnings-related data on AT&T (T) click here.

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