AT&T Rising: Q2 Revenue In-Line, EPS Beats, Affirms Expected Close of TWX Deal

Shares of AT&T
(T) are up 98 cents, or 2.6%, at $37.20, after the company this afternoon reported
revenue in line with analysts’ expectations, and beat on the bottom line, sending its shares up in late trading.

CEO Randall Stephensonsaid the company said the company “once again” expanded its profit margins, noting EPS rose “by nearly 10%.”

“And in a quarter where our competitors used promotions aggressively, we added more than 500,000 branded smartphones to our base and more than 100,000 IP broadband subscribers, achieved record EBITDA wireless margins and had the lowest postpaid phone churn in our history.”

Revenue in the three months ended in June declined to to $39.8 billion, yielding EPS of 79 cents.

Analysts had, on average, been modeling $39.84 billion.t

AT&T’s operating profit
margin in the wireless business was 30.4%, up 60 basis points, and it said its Ebitda
margin of 41.8% was its best ever.

AT&T said it added 2.8 million wireless subscribers, on a “net” basis, of which 2.3 million were in the U.S., including adding over 500,000 ‘branded” smartphones, it said.

The company’s churn
level was its best ever in the post-paid phone division, it said, at 0.79%.

AT&T’s revenue from its “ entertainment group
” was flat at $12.7 billion, with total video revenue up 2.1%, while broadband revenue was down “slightly.”

AT&T said it continues to expect its $105 billion proposed acquisition of Time Warner
(TWX) to close by the end of this year.

AT&T shares are up $1.08, or 3%, at $37.30.

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