AT&T (T) Reports In-Line Q3 EPS, Revs Beat
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October 26, 2020 7:09 AM EDT
RBC Capital analyst Jonathan Atkin lowered the price target on AT&T (NYSE: T) to $30.00 (from $32.00) while maintaining a Sector Perform rating following the company's 3Q earnings report. Relative to consensus, revenue of $42.3B was 1.7% ahead, adjusted EBITDA of $13.3B was 2.7% below, adjusted... More
October 22, 2020 6:19 AM EDT
By Sheila Dang
(Reuters) - AT&T Inc on Thursday reported the coronavirus pandemic had taken a heavy toll on its media business, but quarterly results were offset by more new phone subscribers than expected, which executives credited to the improved quality of its wireless network.
That helped AT&T beat revenue expectations. Total revenue was $42.3 billion during the third quarter ended Sept. 30, exceeding the average analyst expectation of $41.59 billion, according to IBES data from Refinitiv.
Shares of AT&T surged 5% to $28.11 in morning trading.
The company added 645,000 net new phone subscribers during the... More
