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AT&T Shares Advance As Earnings Above Wall Street Forecasts

Jul, 26th 01:49

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.

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