Why AT&T Stock Is Jumping Today
AT (NYSE: T) stock is climbing in Wednesday's trading session following the telecom giant's third-quarter report. The share price was up by about 4% as of 1:45 p.m. ET.
AT reported its Q3 results before the market opened Wednesday morning, posting non-GAAP (adjusted) earnings of $0.60 per share, which beat the average estimate of Wall Street analysts for $0.57 per share. But its sales of $30.2 billion fell short of expectations for sales of $30.45 billion. However, margins were strong, and the company gave encouraging guidance along some key lines.
In the quarter, the company added 403,000 postpaid phone subscriptions, and mobility services sales climbed 4% compared to the prior-year period. Meanwhile, it added 226,000 new AT Fiber subscriptions, making Q3 the 19th straight quarter with net additions above 200,000. Total consumer broadband sales were up 6.4% year over year.
Source Fool.com
