AT&T (NYSE:T) earnings for the wireless company’s third quarter of 2019 have T stock on its way up Monday. That comes from its adjusted earnings per share of 94 cents. This is better than Wall Street’s estimate of 93 cents. Revenue of $44.60 billion is also above analysts’ estimates of $44.26 billion for the quarter.
Let’s take a deeper look at the most recent AT&T earnings report.
- Adjusted EPS is up 4.44% YoY from 90 cents.
- Revenue comes in 2.41% lower than $45.7 billion in the same period of the year prior.
- Operating income of $7.90 billion is up 8.22% from $7.30 billion in Q3 2018.
- The AT&T earnings report also includes a net income of $3.70 billion.
- This is a 21.28% drop from its net income of $4.70 billion reported during the same time last year.
The AT&T earnings report also includes an update concerning its leaders. This includes two Board members retiring over the next 18 months. A replacement for the first wll comes at the next Board meeting. The next new Board member will be chosen in 2020. Current Chairman and CEO Randall Stephenson will also be sticking around at least through 2020.
The AT&T earnings report for the third quarter of 2019 also includes an outline for the next three years. This has it expecting adjusted EPS increasing to between $4.50 and $4.80 by 2022. It’s also looking for three-year compounded annual revenue growth ranging from 1% to 2%.
When it comes to the full year of 2020, AT&T is expecting adjusted earnings per share to range from $3.60 to $3.70. That has the midpoint above Wall Street’s estimate of $3.62 for the year.
T stock was up 4.34% as of Monday morning.