AT&T trading lower after Q2 earnings print: ~EPS: $0.54 vs $0.52 est ~REV: $30.80B vs $30.45B est https://t.co/zpjrqTi0RD $T 🔴 -4% in pre-market https://t.co/oivtCFLs9S
$T (-3.6% pre) AT&T Earnings, Revenue Top Estimates. Telecom Stock Falls Amid Big Run-Up. https://t.co/hb1LbZ23x8
AT&T posts big subscriber beat and tops earnings and revenue expectations https://t.co/UfifhcARbv
Verizon Communications reported second-quarter revenue that topped Wall Street estimates and raised its full-year profit outlook, citing stronger demand for higher-priced wireless plans and tax benefits. The company did not disclose detailed profit figures in the tweets, but the beat prompted TD Cowen to raise its price target on the stock to $56 from $50, noting a roughly $2 billion boost to free cash flow linked to recent U.S. tax reforms. Rival AT&T followed with results that also exceeded expectations. Second-quarter revenue rose 3.4% to $30.8 billion, ahead of the $30.5 billion consensus. Net income reached $4.9 billion and adjusted earnings were reported around $0.54–$0.62 a share, both better than projected. The carrier added 401,000 post-paid phone subscribers, 203,000 Internet Air fixed-wireless customers and 243,000 fiber customers, and said tax savings of $6.5–8 billion would lift free cash flow. Management maintained plans to invest about $3.5 billion a year to extend fiber service to more than 60 million locations by 2026. The back-to-back beats by the two largest U.S. wireless carriers suggest that consumer appetite for premium plans and high-speed broadband remains resilient, even as competition intensifies and capital requirements stay elevated.
