AT&T Reports Q3 Earnings Beat

AT&T (T) reported adjusted third-quarter earnings of 94 cents per share on Monday, which beat the analyst consensus estimate of 93.

The company reported quarterly sales of $44.588 billion, which missed the analyst consensus estimate of $45 billion by 0.92%. This is a 2.52% decrease over sales of $45.739 billion in the same period last year.

AT&T sees fiscal year 2020 sales at $3.60-3.70 versus the $3.62 estimate.

"The strategic investments we've made over the last several years have given us the essential elements to meet growing demand for content and connectivity," said Randall Stephenson, AT&T CEO. "Our 3-year plan delivers both substantial and consistent financial improvements over the next 3 years. We grow revenues, EBITDA, and EPS every single year, and free cash flow is stable next year, but then grows in both of the next two years, as well. And all of this is inclusive of our investment in HBO Max."

AT&T shares are trading up 1.8% at $37.60 in Monday’s pre-market session. The stock has a 52-week high of $38.75 and a 52-week low of $26.80.