Shares of AT&T Inch Lower as Revenues Miss Expectations
Shares of AT&T Inc. slipped 0.25% in after-trading hours on Tuesday after the telecommunications giant reported revenues that missed expectations.
Due to the fact that sales of wireless equipment hit an all-time low, in the first quarter of 2017, net income only reached $3.5 billion, or 56 cents a share, on revenue of $39.4 billion, which was lower than both the year-ago quarter’s reading and forecast calling for a figure of $40.5 billion. After adjusting for one-time items, AT&T reported earnings of 74 cents a share, in line with expectations.
The company said it added 2.7 million wireless customers in the quarter, twice as many as expected of 1.3 million. However, AT&T lost 61,000 postpaid customers in North America in the three-month period to March, while analysts were expecting a rise of 95,000.
Sell Stop at 39.80, Take profit 39.00, Stop loss at 40.20