Is AT&T Stock a Buy Now?
AT&T's (NYSE: T) stock price rose 4% on April 21 after the telecom giant posted its first-quarter earnings report. This marked AT&T's first earnings report after its long-awaited spin-off of Warner Bros. Discovery (NASDAQ: WBD), which closed on April 8 and finally ended its messy media expansion plans.
AT&T's consolidated revenue fell 13% year over year to $38.1 billion, which missed analysts' estimates by $190 million. That decline reflected its spin-offs and divestments of DirecTV, Vrio, Xandr, and Warner Bros. Discovery (WBD) over the past year. Excluding those impacts, AT&T's stand-alone revenue rose 2.5% to $29.7 billion. Its adjusted earnings declined 9% to $0.77 per share, but it still beat the consensus forecast by eight cents.
Image source: AT&T.
Source Fool.com
