AT&T Stock Jumps After Q1 Earnings Beat Following Discovery Merger

Updated at 6:59 am EST

AT&T Inc. (T) – Get AT&T Inc. Report posted stronger-than-expected first-quarter earnings Thursday in its maiden investor update following the spin-off of its media assets into Warner Bros. Discovery (WBD) – Get WARNER BROS. DISCOVERY, INC. Reportwith revenues topping forecast thanks to solid gains for its wireless and broadband divisions.

AT&T said adjusted earnings for the three months ending in March were pegged at 77 cents per share, down 10.5% from the same period last year but just ahead of the Street consensus forecast of 59 cents per share. Group revenues, the company said, fell 13.2% to $ 38.1 billion, while the group’s standalone wireless revenues were pegged at $ 29.7 billion, a figure that came in just ahead of analysts’ estimates of a $ 29.53 billion tally.

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Updated at 6:59 am EST AT&T Inc. (T) – Get AT&T Inc. Report posted stronger-than-expected first-quarter earnings Thursday in its maiden investor update following the spin-off of its media assets into Warner Bros. Discovery (WBD) – Get WARNER BROS. DISCOVERY, INC. Reportwith revenues topping forecast thanks to solid gains for its wireless and broadband divisions.…

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