AT&T Inc. (T) Q2 Profit & Revenue Beat The Street Amid Strong Wireless Adds
(NYSE:T) late Tuesday posted better than expected second quarter earnings results, driven by strong customer additions to its wireless services." width="300" height="150" srcset="https://i2.wp.com/investorsbuz.com/wp-content/uploads/2017/07/att-t-logo.png?resize=300%2C150 300w, https://i2.wp.com/investorsbuz.com/wp-content/uploads/2017/07/att-t-logo.png?resize=768%2C384 768w, https://i2.wp.com/investorsbuz.com/wp-content/uploads/2017/07/att-t-logo.png?w=800 800w" sizes="(max-width: 300px) 100vw, 300px" />
ATT Inc. (NYSE:T) late Tuesday posted better than expected second quarter earnings results, driven by strong customer additions to its wireless services.
The Dallas-based telecom giant, which is in the midst of a takeover deal to buy Time Warner, reported Q2 earnings per share (EPS) of $0.79, which was $0.05 better than the Wall Street consensus estimate of $0.74.
Revenues fell 1.6% from last year to $39.84 billion, right in-line with analysts’ view for $39.84 billion.
AT&T also noted 2.8 million wireless net adds, 2.3 million of which were in the United States. T noted the uptick was driven by connected devices, prepaid and postpaid plans, along with 476,000 Mexico net adds.
The company commented via press release:
“[I]n a quarter where our competitors used promotions aggressively, we added more than 500,000 branded smartphones to our base and more than 100,000 IP broadband subscribers, achieved record EBITDA wireless margins and had the lowest postpaid phone churn in our history. We continue to expect the Time Warner (TWX) deal to close by year-end and further transform the company.”