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AT&T Beats Wall Street Q2 Profit Forecast Despite Pay-TV, WarnerMedia Pressure
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deadline.comDade Hayes Finance EditorAT&T beat Wall Street forecasts for earnings per share in the second quarter, the first full period to reflect the impact of COVID-19 on its operations.Adjusted earnings of 83 cents slipped from 89 cents in the year-earlier quarter, but beat analysts’ consensus forecast for 79 cents.Total revenue met analysts’ expectation, falling 9% from a year ago to $41 billion.
The company said the revenue figure “reflects COVID pressure of an estimated $2.8 billion.”The results are for the first full quarter during which operations were affected by COVID-19, which started to hit with full force in March.
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