AT&T Q3 revenues were $42.3 billion, an improvement from the expected $41.6 billion, according to the company’s press release. Adjusted earnings per share were $0.76, lower than expected 0.77, and comparable quarter’s $0.94. Quarter results showed subscriber growth in the company’s focus areas of wireless and fiber broadband, strong cash flows, financial strength, and business resilience.
- AT&T Q4 results to be impacted by partial closures of movie theaters and postponement of theatrical releases, reduced international roaming wireless services due to declining travel, and higher expenses to protect front-line staffs, contractors, and customers.
- AT&T expects free cash flows of $26 billion or a higher full-year dividend payout as high as 50%.
- The company expects a gross capital investment of about $20 billion in 2020.
- Free cash flows were $8.3 billion, with a total dividend payout of 45%.
- In Q3 2020, AT&T recognized $190 million or $0.02/diluted share of incremental costs.
- Company operations impacted by about $1.72billion or $0.19/diluted share due to COVID-19 related pressures.
AT&T stock is gaining on quarterly results. T: NYSE is up on premarket 4.42%