Shares of AT&T Inc. had been up 2% in premarket buying and selling Thursday after the telecommunications firm topped revenue expectations for its newest quarter.
The corporate posted third-quarter earnings from persevering with operations of $6.3 billion, or 79 cents a share, in contrast with $5.0 billion, or 63 cents a share, within the year-prior quarter.
After changes for actuarial good points on profit plans and another components, AT&T
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-0.38%
notched 68 cents a share in earnings from persevering with operations, up from 66 cents a share a yr earlier, and alone above the 62 cents a share in earnings from persevering with operations for standalone AT&T throughout that year-ago interval. The standalone quantity accounts for the truth that the corporate divested its U.S. video enterprise final summer season.
Analysts tracked by FactSet had been modeling 61 cents a share in adjusted earnings for AT&T’s third quarter.
Income got here in at $30.0 billion, down from $31.3 billion a yr earlier than, although up from $29.1 billion in income for standalone AT&T. The FactSet consensus was for $29.8 billion in income.
AT&T attributed the drop in headline income in the course of the newest quarter to the divestment of its U.S. video enterprise final July in addition to decrease enterprise wireline income. These tendencies had been partially offset by larger mobility income.
The corporate noticed 708,000 postpaid cellphone web additions in the course of the interval, whereas postpaid cellphone churn was 0.84%.
AT&T expects progress in mobility service revenues on the “higher finish” of the 4.5% to five% vary for the total yr. It gave a goal of 4.5% to five% progress in its second-quarter report. The corporate additionally fashions adjusted earnings per share from persevering with operations of “$2.50 or larger” for the total yr, whereas analysts tracked by FactSet had been on the lookout for $2.53.