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10/21, 12:33 PM (Source: TeleTrader)
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AT&T's Q3 revenue down by 5.7% YoY to $39.9B

AT&T Inc. announced on Thursday its consolidated revenue in the third quarter of 2021 came in at $39.9 billion, which is a decrease of 5.7% in comparison to the same period the year before but still above expectations. On the other hand, the company's operating income went up by 16.4% year on year to $7.1 billion. Meanwhile, its diluted earnings per share (EPS) saw an annual rise of a staggering 110% to $0.82 per share.

"We continue to execute well in growing customer relationships, and we're on track to meet our guidance for the year," AT&T Chief Executive Officer (CEO) John Stankey stated. "We had our best postpaid phone net add quarter in more than 10 years. [...] We also have clear line of sight on reaching the halfway mark by the end of the year of our $6 billion cost-savings goal."

Following the release of the report, AT&T's shares went up by 1.70% in premarket trading.

Breaking the News / JR