AT&T’s Q3 Earnings Mostly Flat from Last Year; Profit Beats, Revenue Misses (T)
Telecom giant AT&T Inc. (T) on Wednesday posted mixed third quarter earnings results, as both profit and revenue were just about unchanged.
The Dallas-based company reported third quarter net income of $3.64 billion, or 63 cents per share, compared with $3.62 billion, or 61 cents per share, in the year-ago period. Excluding special items, adjusted profit was 62 cents per share.
Revenue was flat from last year at $31.46 billion.
On average, Wall Street analysts expected a smaller profit of 60 cents per share, albeit on higher revenue of $31.59 billion.
On a positive note, T said it now expects full-year free cash flow of at least $18 billion for 2012, up from a previous view of about $16 billion.
AT&T shares were unchanged in premarket trading Wednesday.
The Bottom Line
We have been recommending shares of AT&T (T) since Mar.12, 2009, when the stock was trading at $23.35. The company has a 5.03% dividend yield, based on last night’s closing stock price of $35.00.
AT&T Inc. (T) is a “Recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.
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