AT&T Inc (T) Misses Q3 EPS by 1c
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AT&T Inc (NYSE: T) reported Q3 EPS of $0.63, $0.01 worse than the analyst estimate of $0.64. Revenue for the quarter came in at $33 billion versus the consensus estimate of $33.3 billion.
- Strong cash from operations of $8.7 billion, with $3.5 billion in free cash flow
- More than 2 million new wireless and wireline high-speed broadband connections added
The company continues to rationalize its business portfolio. This includes:
- Completing the sale of the América Móvil equity investment;
- Closing Connecticut wireline property transaction two months earlier than expected; and,
- Exiting select low-margin wireline wholesale businesses.
With this rationalization, the company now expects full-year consolidated revenue growth in the 3 to 4 percent range, which also includes the impact of fewer than expected AT&T Next gross adds and upgrades and greater than expected number of BYOD (bring your own device) gross adds.
“Our strategy is on track and our investments in giving customers best-in-class service to access content everywhere and on any screen continue to pay off,” said Randall Stephenson, AT&T chairman and CEO. “We had strong subscriber growth in wireless and U-verse, and our strategic business services revenues continued to post double-digit growth.”
For earnings history and earnings-related data on AT&T Inc (T) click here.
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