AT&T Inc. Earnings Cheat Sheet: Profit Rises Year-Over-Year

S&P 500 (NYSE:SPY) component AT&T Inc. (NYSE:T) reported net income above Wall Street’s expectations for the first quarter. AT&T is a holding company whose subsidiaries and affiliates provide wireless and wireline telecommunications services and products to consumers and businesses worldwide. It also provides directory advertising and publishing services in the United States and international markets.

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AT&T Earnings Cheat Sheet for the First Quarter

Results: Net income for AT&T Inc. rose to $3.6 billion (60 cents per share) vs. $3.4 billion (57 cents per share) in the same quarter a year earlier. This marks a rise of 5.2% from the year-earlier quarter.

Revenue: Rose 1.8% to $31.8 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: AT&T Inc. beat the mean analyst estimate of 57 cents per share. Analysts were expecting revenue of $31.85 billion.

Quoting Management: “We continue to capitalize on our terrific momentum in mobile Internet,” said Randall Stephenson, AT&T chairman and chief executive officer. “Smartphone and branded computing device sales continue to set a record pace, mobile data revenues were up nearly 20 percent, and we achieved this growth with expanding margins. These results add confidence in our outlook for the year.”

Key Stats:

The company topped expectations last quarter after falling short of forecasts in the fourth quarter of the last fiscal year with net income of 42 cents versus a mean estimate of net income of 43 cents per share.

The company’s revenue has now risen for two quarters in a row. In the fourth quarter of the last fiscal year, revenue increased 3.6% to $32.5 billion from the year-earlier quarter.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 63 cents a share to 62 cents over the last ninety days. For the fiscal year, the average estimate has moved down from $2.43 a share to $2.33 over the last ninety days.

Competitors to Watch: Deutsche Telekom AG, Verizon Communications Inc., Sprint Nextel Corporation, CenturyLink, Inc., General Communication, Inc., Cbeyond, Inc., MetroPCS Communications, Inc., Cincinnati Bell Inc., PAETEC Holding Corp., and Frontier Communications Corp.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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