AT&T reported its second-quarter financial performance following the bell, including revenue of $33.02 billion and earnings per share of $0.69. The street had expected the company to earn $0.63 per share on revenue of $33.06 billion.
Down in regular trading, AT&T is up 1 percent after-hours after its earnings announcement.
The company added net new wireless subscribers of 2.1 million in the period. AT&T grew its wireless subscriber count by 1.2 million its sequentially preceding quarter. Post-paid churn, a key metric for its revenue growth and profit sustainability, was 1.01 percent. In the two preceding quarters, that figure was 1.02 percent, and 1.22 percent, in chronological order.
AT&T’s chairman and CEO, Randall Stephenson, shared his thoughts on the quarter:
These results reaffirm our transformation strategy. We grew revenues, expanded margins and delivered double-digit adjusted EPS and cash flow growth. We added more than 2 million new wireless subscribers as the repositioning of our smartphone base nears completion. We also began expanding high-quality, high-speed wireless service to Mexican consumers and businesses.
This is a pivotal time for us. We look forward to closing DIRECTV and building on this momentum by delivering a new TV everywhere experience integrated with mobile and high-speed Internet service.
Its ongoing efforts to kill off my grandfathered unlimited data plan continue to be thwarted.