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AT&T Beats on Earnings, but Revenues Fall Short

AT&T Inc. (NYSE: T) reported this morning that its second-quarter profit came in at $3.9 billion, or $0.66 per share. That is up from from $3.59 billion, or $0.60 per share, in the same period of last year. Revenue increased…

By Trey Thoelcke
Published July 24, 2012, 9:14am ET · 1 min read

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AT&T Inc. (NYSE: T) reported this morning that its second-quarter profit came in at $3.9 billion, or $0.66 per share. That is up from from $3.59 billion, or $0.60 per share, in the same period of last year. Revenue increased to $31.58 billion from $31.50 billion a year ago.

While earnings topped the consensus estimates, revenues fell short. Analysts were looking for $31.7 billion.

The nation’s biggest phone company attributed better-than-expected bottom line results to record wireless margins and solid data growth.

“We executed well across the business and posted another strong quarter with growing revenues, expanding margins and double-digit earnings growth,” said AT&T CEO Randall Stephenson in a statement.

The company also said it activated 3.7 million Apple (NASDAQ: AAPL) iPhones during the quarter, with 22% new to AT&T. However, that was down from 4.3 million iPhones during the first quarter. Rival Verizon Communications (NYSE: VZ) activated 2.7 million iPhones during its own second quarter. Verizon reported a 12% rise in profit in last week’s quarterly report.

AT&T is up about 0.2% to $35.46 in premarket trading, in a 52-week range of $27.29 to $36.21. Nike has inched up about 0.1% to $44.42 in premarket trading. Its 52-week range is $32.28 to $46.41.

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Trey Thoelcke

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.

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