Thursday, April 20, 2023

AT&T Q1 Profit Down, Beats View; Topline Miss Estimates; Stock Down In Pre-market

Telecom giant AT&T, Inc. reported Thursday that its first-quarter profit declined from last year, yet topped market estimates. Revenues were higher, but missed the Street forecast. The company further said it is on track to achieve $6 billion-plus run-rate cost savings target before the end of the year. In pre-market activity on the NYSE, the shares were losing around 4.7 percent.

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