AT&T Shares Advance As Earnings Above Wall Street Forecasts

Shares of AT&T reversed higher in after-hours trading on Tuesday after closing the regular session down less than 0.1 percent as the telecommunications conglomerate reported Q2 earnings above Wall Street expectations.

AT&T shares jumped more than 2.7 percent to trade at $37.21 per shares after the telecommunications company said it earned $3.9 billion, or 63 cents a share, in the second quarter. That was well above the same quarter last year’s reading of $3.4 billion, or 55 cents a share.

Adjusted for one-time items, AT&T posted earnings of 79 cents a share, marking an advance compared with 72 cents a share recorded a year ago. Meanwhile, sales were reported to inch lower to $39.8 billion, from $40.5 billion in the year-ago quarter. However, the decline, which was due to weak performance in legacy wireline services and consumer mobility, was line in with forecast.

Trade suggestion

Buy Stop at 37.25, Take profit at 37.80, Stop loss at 37.00

Start Trading Forex, Indices, Commodities And Hundreds of Other Markets With Capital Street FX Now!

Leave a Reply

Your email address will not be published. Required fields are marked *