DALLAS (dpa-AFX) - Telecom giant AT&T, Inc. (T) on Wednesday reported a profit in its third quarter, compared to prior year's loss, mainly benefited by gain on the sale of the DIRECTV investment and higher revenues. Further, the company reiterated its outlook for fiscal 2025 as well as for the 2026-2027 period.
In the pre-market activity, AT&T shares were gaining around 0.7 percent to trade at $26.21.
In the third quarter, net income attributable to stock was $9.3 billion, compared to loss of $0.2 billion in the year-ago quarter. Earnings per share were $1.29, compared to loss of $0.03 per share a year ago.
The latest results were benefited mainly by a $0.75 gain on the sale of the DIRECTV investment.
Adjusted earnings per share of $0.54, consistent with the year-ago quarter
The Wall Street analysts on average expected the company to report earnings of $0.54 per share. Analysts' estimates typically exclude special items.
Revenues for the third quarter totaled $30.7 billion, 1.6 percent higher than $30.2 billion in the year-ago quarter. The revenues were benefited by higher Mobility, Consumer Wireline and Mexico revenues, partially offset by a decline in Business Wireline.
The Street was looking for revenues of $30.89 billion for the quarter.
Looking ahead for fiscal 2025, the company continues to expect adjusted earnings per share in the higher end of the $1.97 to $2.07 range, adjusted EBITDA growth of 3% or better, and consolidated service revenue growth in the low-single-digit range.
Analysts estimate earnings of $2.06 per share for the year.
AT&T also reiterated its 2026-2027 financial outlook, still expecting adjusted earnings per share accelerating to double-digit percentage growth in 2027; adjusted EBITDA growth of 3% or better annually from 2026-2027; and consolidated service revenue growth in the low-single-digit range annually from 2026-2027.
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