AT&T reported quarterly earnings as well as revenue in which came in just shy of analysts’ expectations on Tuesday.
Here’s how the company did:
- EPS: 74 cents vs. 75 cents expected, according to Thomson Reuters
- Revenue: $39.67 billion vs. $40.10 billion expected, according to Thomson Reuters
- Wireless net adds: 3.0 million vs. 1.97 million expected, according to StreetAccount
- Mobility postpaid churn rate: 0.84 percent vs. 1.08 percent expected, according to Street Account
inside the year-ago quarter, the mobile giant reported adjusted earnings of 74 cents on $40.89 billion in revenue.
The postpaid churn rate, or the percentage of subscribers who cancel their service, was 0.84 percent for the quarter. The total was lower, therefore better, than Wall Street’s expectation of 1.08 percent, according to StreetAccount.
Although earnings as well as revenue came in slightly below Wall Street expectations, AT&T maintained its full-year guidance. Analysts project in which AT&T will report full-year earnings of $2.93 per share on $0.86 billion in revenue, according to Thomson Reuters consensus estimates.
After the report, shares of AT&T slipped 1 percent in after-hours trade.
On Monday, AT&T extended its deadline to close its proposed acquisition of Time Warner amid pending regulatory approval.
The two corporations reached an $85 billion agreement in October 2016, giving themselves a year to close the deal. The original deadline was Oct. 22.