S&P 500 (NYSE:SPY) component AT&T Inc. (NYSE:T) reported its results for the first quarter. AT&T Inc. is a holding company whose subsidiaries and affiliates provides 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.
AT&T Earnings Cheat Sheet for the First Quarter
Results: Net income for the telecom services company rose to $3.47 billion (56 cents/share) vs. $2.48 billion (42 cents/share) YoY. A rise of 40.1% from the year earlier quarter.
Revenue: Rose 2% to $31.25 billion YoY.
Actual vs. Wall St. Expectations: T fell right in step with the street’s estimates or 56 cents/share.
Quoting Management: “We delivered another robust mobile broadband growth quarter for a very solid start to the year,” said Randall Stephenson, AT&T chairman and chief executive officer. “We posted double-digit wireless revenue growth, and we set new first-quarter records in total net adds, connected device net adds and smartphone sales. Growth in tablets and other branded computing subscribers also continues to be strong.”
Key Stats: Net income has increased 53.1% year over year on average across the last five quarters. The biggest gain came in the third quarter of the last fiscal year, when income climbed more than threefold from the year earlier quarter.
Over the last five quarters, revenue has increased 1.3% on average year over year. The biggest increase came in the third quarter of the last fiscal year, when revenue rose 2.4% from the year earlier quarter.
Competitors to Watch: Sprint Nextel Corp. (NYSE:S), MetroPCS (NYSE:PCS), Vodafone (NASDAQ:VOD), Qwest (NYSE:Q), CenturyLink (NYSE:CTL), Cbeyond (NASDAQ:CBEY), Cincinnati Bell (NYSE:CBB), Frontier Communications (NYSE:FTR) and Verizon Communications Inc. (NYSE:VZ).
Today’s Performance: Shares of T are trading at $30.23 per share: