AT&T Inc., the telecom giant, reported its first-quarter earnings, surpassing profit estimates as it exceeded expectations in adding wireless phone customers. The company’s focus on 5G rollouts and competitive pricing helped attract more subscribers compared to its competitors like Verizon. Although AT&T’s earnings for Q1 were lower than the previous year, they still outperformed analysts’ projections. However, revenue fell slightly short. The market had high expectations for Meta Platforms, the owner of Facebook and Instagram, as it prepared to release its results. AT&T’s Q1 results showcased consistent growth in 5G and fiber customer additions, emphasizing its strong performance.

In the first quarter, AT&T reported a profit that exceeded analysts’ estimates, driven by a higher number of wireless phone customers than anticipated. The company’s stock climbed as a result, despite the decline in earnings compared to the previous year. Additionally, AT&T’s revenue slightly missed expectations. As Meta Platforms prepared to announce its results, there was both anticipation and potential risk for disappointment. AT&T emphasized its consistent growth in 5G and fiber customer additions, along with its robust financial performance for the quarter. The company’s first-quarter earnings per share came in at $0.55, outperforming the analyst estimate of $0.53. However, revenue fell short of projections.

Key Takeaways:

AT&T’s first-quarter earnings beat profit estimates as it added more wireless phone customers than expected.

The company’s stock climbed after Q1 earnings, even though it fell from the previous year.

AT&T’s revenue slightly missed estimates.

Meta Platforms faced high expectations and the risk of disappointment as it reported its results.

AT&T’s first-quarter results highlighted consistent growth in 5G and fiber customer additions.

Citation:

“AT&T Inc. (NYSE: T) reported first-quarter results that highlighted consistent 5G and fiber customer additions and showcased a robust performance powered by its 5G and fiber growth.” (CNW)