On Monday, AT&T reported adjusted third-quarter earnings of 94 cents per share, which surpassed analysts’ expectation of 93 cents.
The telecom behemoth’s quarterly sales of $44.588 billion, however, missed the analyst consensus estimate of $45 billion. The figure is also - 2.52% lower compared to the year-ago quarter’s $45.739 billion.
CEO Randall Stephenson emphasized that “strategic investments” that the company has made over the last several years have helped them meet growing demand for content and connectivity. Stephenson said, "Our 3-year plan delivers both substantial and consistent financial improvements over the next 3 years. We grow revenues, EBITDA and EPS every single year, and free cash flow is stable next year, but then grows in both of the next two years, as well. And all of this is inclusive of our investment in HBO Max."