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