A&T (T) reports Q3 (Sep) results, revs in-line; raises FCF guidance
AT&T Inc. (T) posted better-than-expected third quarter earnings Wednesday, while lifting its full-year free cash flow forecast and profit growth forecasts, as its aggressive moves to win new Apple iPhone customers adds to its top and bottom lines.
AT&T said adjusted earnings for the three months ending in September were pegged at 64 cents per share, down 5.9% from last year but just ahead of the Street consensus forecast of 63 cents per share.
Revenues, the company said, rose 1.2% from last year to $30.35 billion, just ahead of Street forecasts of $30.04 billion, while the group's free cash flow was pegged at $5.2 billion, firmly ahead of forecasts and a $1 billion quarter-on-quarter, amid the group's ongoing cost-cutting efforts.
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