AT&T earnings for the first quarter of 2019 have T stock falling on Wednesday.
AT&T (NYSE:T) reported earnings per share of 86 cents first the first quarter of the year. This is an increase over the company’s earnings per share of 85 cents from the same time last year. It also matches Wall Street’s earnings per share estimate for the quarter, but couldn’t save T stock from falling today.
Net income reported in the AT&T earnings release for the first quarter of 2019 comes in at $4.35 billion. That’s down from the company’s net income of $4.76 billion reported in the first quarter of 2018.
The AT&T earnings report for the first quarter of the year also includes operating income of $7.23 billion. This is up from the company’s operating income of $6.20 billion reported in the same period of the year prior.
AT&T earnings for the first quarter of 2019 also have revenue coming in at $44.83 billion. This is better than the wireless company’s revenue of $38.04 billion reported in the first quarter of the previous year. Unfortunately for T stock, this has it missing analysts’ revenue estimate of $45.11 billion for the period.
AT&T notes in its most recent earnings report that it saw revenue for its Entertainment Group drop by almost 1% from the first quarter of 2018. It also saw revenue from its Business Wireline group drop by 3.7% during the quarter.
T stock was down 4% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
