Is AT&T Stock a Buy?
AT&T (NYSE: T) continues to make money despite major declines in its pay-television business. The company did see its third-quarter profit decline from $0.65 a year ago to $0.50 in 2019, a fairly healthy number given the struggles the company has faced with its DIRECTV and U-verse businesses.
Company management has not been oblivious to the fact that some changes are needed. CEO Randall Stephenson laid out a three-year capital allocation plan to address some of those underlying issues in his remarks in the Q3 earnings release:
The strategic investments we've made over the last several years have given us the essential elements to meet growing demand for content and connectivity. Our 3-year plan delivers both substantial and consistent financial improvements over the next 3 years. We grow revenues, EBITDA, and EPS every single year, and free cash flow is stable next year, but then grows in both of the next two years, as well. And all of this is inclusive of our investment in HBO Max.
Source Fool.com
