Why AT&T Stock Is Soaring Today

(NYSE: T) stock is seeing big gains in Monday's trading despite a bearish backdrop for the broader market. The company's share price was up 7% as of 3:15 p.m. ET. Meanwhile, the S 500 (SNPINDEX: ^GSPC) was down 1.8%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had fallen 3.6%.

AT's valuation is surging following the company's recent earnings report. In addition to posting sales and earnings performance that beat Wall Street's expectations, the company also issued encouraging guidance on returning value to shareholders and its plans in the artificial intelligence (AI) space.

AT published its fourth-quarter results before the market opened this morning and reported sales and earnings for the period that beat Wall Street's targets. The company posted adjusted non-GAAP (generally accepted accounting principles) earnings per share of $0.54 on sales of $32.3 billion, beating the average analyst estimate's call for per-share earnings of $0.51 and sales of $31.94 billion.

Continue reading

Source Fool.com