AT&T Posts Solid Quarter, Beats Street - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

AT&T Posts Solid Quarter, Beats Street

AT&T, boosted by third-quarter growth in wireless and data services, offset a decline in its core business to post a 67% increase in earnings and beat Wall Street estimates.

The communications giant reported third-quarter revenue of $13.653 billion, up 4% from $13.09 billion in the third quarter of 1997. Net income for the quarter was $1.959 billion, up from $1.164 billion. AT&T had earnings per share of $1.00, beating First Call estimates of 95 cents per share.

The solid quarter comes at a good time for AT&T, which has had a succession of rough quarters in the past year as the company's core consumer business has slipped under increased competition. Today's results "demonstrate that we're successfully executing our strategy to reduce costs, achieve profitable growth, and win in a competitive environment," AT&T chairman C. Michael Armstrong said in a statement.

The revenue growth was spurred by business services, which grew $262 million or 5% over last year, with much of that growth coming from high-speed data services, and wireless services, which rose $230 million or 19% over last year. Consumer services dropped $171 million (3%) from the third quarter of 1997.

The results reflect AT&T's July acquisition of local carrier Teleport Communications Group Inc.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Remote Work Tops SF, NYC for Most High-Paying Job Openings
Jessica Davis, Senior Editor, Enterprise Apps,  7/20/2021
Slideshows
Blockchain Gets Real Across Industries
Lisa Morgan, Freelance Writer,  7/22/2021
Commentary
Seeking a Competitive Edge vs. Chasing Savings in the Cloud
Joao-Pierre S. Ruth, Senior Writer,  7/19/2021
Register for InformationWeek Newsletters
Video
Current Issue
Monitoring Critical Cloud Workloads Report
In this report, our experts will discuss how to advance your ability to monitor critical workloads as they move about the various cloud platforms in your company.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll