AT&T’s first-quarter results
AT&T (T) reported its first-quarter results before the market opened on April 24. The company posted net sales of $44.8 billion in the first quarter—up ~17.8% on a YoY (year-over-year) basis. However, the net sales missed analysts’ estimate of $45.1 billion.
AT&T posted an adjusted EPS of $0.86 in the first quarter, which rose 1.2% on a YoY basis and was in line with analysts’ estimates of $0.86. Analysts expected AT&T’s sales and adjusted EPS to be $183.9 billion and $3.58 in fiscal 2019.
Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.
In the first quarter, AT&T gained 2.7 million net wireless customers in the United States due to gains in postpaid smartphone and connected devices. The gains might be significant since smaller companies like Sprint (S) and T-Mobile (TMUS) have attracted subscribers from other mobile operators. AT&T gained 80,000 postpaid phone net customers in the first quarter.
AT&T’s stock price
AT&T stock has risen 12.5% year-to-date but has fallen 8.0% in the trailing 12-month period. AT&T’s share price has increased 0.3% in the last five trading days. In comparison, Verizon (VZ), Sprint, and T-Mobile have generated returns of -2.7%, -2.9%, and -0.1%, respectively, in the last five trading days.