Why AT&T Rose 18.8% in October
Shares of AT&T (NYSE: T) rose 18.8% in October, according to data from S&P Global Market Intelligence.
The telecom company, whose shares have been beaten down for much of this year, reported earnings on Oct. 20. But in contrast to the negative sentiment swirling around the company, AT&T beat expectations for both revenue and earnings, while raising its full-year guidance.
For the third quarter, AT&T posted overall revenue of $30 billion, down 4.2% over the prior year, while adjusted (non-GAAP) earnings per share of $0.68 beat expectations by $0.07.
Source Fool.com
