Yahoo Finance AT&T (T) Beats on Q3 Earnings, Offers 3-Year Financial View
AT&T Inc. T reported relatively tepid third-quarter 2019 results with year-over-year decline in GAAP earnings and revenues due to lower-than-anticipated performances from legacy wireline services and WarnerMedia businesses. The company has offered a three-year guidance and financial allocation plan, which is expected to drive significant improvement in margins and bottom-line growth with sustained investments and debt reduction.
Net Income
On a GAAP basis, AT&T reported net income of $3,700 million or 50 cents per share compared with $4,718 million or 65 cents per share in the year-ago quarter. The slump in earnings despite lower operating costs was primarily attributable to lower revenues and merger and integration-related expenses.
Excluding non-recurring items, adjusted earnings for the quarter were 94 cents per share compared with 90 cents in the year-earlier quarter, and exceeded the Zacks Consensus Estimate by a penny.
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