Dallas’ AT&T raises full-year revenue forecast as business recovers from pandemic

by   |  VIEW 278

Dallas’ AT&T raises full-year revenue forecast as business recovers from pandemic

On Thursday, AT&T Inc., the Delaware-incorporated American multinational telecom conglomerate headquartered in Downtown Dallas, had handily beaten analysts’ estimate for second-quarter revenues and phone subscriptions, while the US telecom giant had raised full-year forecast for revenues alongside HBO Max subscriptions as the telecom megalith appears to have emerged from a pandemic-led fiscal upheaval.

Aside from that, latest upbeat Q2, 2021 earnings’ report for AT&T Inc came forth as the United States’ largest phone service provider had been spinning out its expensive media investments in a bid to focus more on core phone and internet services businesses.

Besides, ahead of a merger of its media contents with Discovery, AT&T Inc said in the earnings’ report that the telecom firm had added 789,000 new phone subscriptions between April to June quarter, insanely beating a Wall Street estimate of 278,000 new subscriptions, data from FactSet had unveiled.

Followed by the release of an upbeat quarterly earnings’ report, AT&T Inc shares had wrapped up the day 0.39 per cent higher to $28.01 apiece after plunging as much as 1.5 per cent in pre-market trading.

AT&T beats estimate as telecom business emerges from pandemic pandemonium

Apart from that, according to AT&T Inc., the Dallas-based American telecom services provider’s total revenue surged 7.6 per cent to $44 billion in the quarter that ended on June 30, beating an analysts’ estimate of $42.67 billion, IBES data from Refinitiv had unfurled, while the company’s net income attributable to dividends soared to $1.5 billion or 21 cents per share compared to 17 cents per share or $1.2 billion registered at the same time a year earlier.

Nevertheless, AT&T Inc had earned 89 cents per share excluding items, above an estimate of 79 cents per share. Meanwhile, referring to AT&T Inc.’s commitment to WarnerMedia alongside DirecTV, the company Chief Executive John Stankey said in a post-earning conference call with the reporters, “We want to hit a strong exit velocity for both of these businesses, at which point the combination with the right partner only expands their respective opportunities for success”.

However, if a deal to divest a stake in DirecTV concludes in few weeks, AT&T Inc.’s total revenues would be declined by roughly $9 billion for the remaining of the year, the company added.