AT&T: posts higher operating profit on acquisition
(CercleFinance.com) - AT&T has reported higher operating profit on Wednesday, helped by the acquisition of Time Warner, which boosted its revenue.
Second-quarter operating income was 7.5 billion dollars, from 6.5 billion dollars in the second quarter of 2018.
Net income was 3.7 billion dollars, or 51 cents per share, from 5.1 billion dollars, or 81 cents per share, in the same period of 2018.
Excluding merger costs and other expenses, earnings per share (EPS) was 89 cents.
On average also expected EPS of 89 cents.
AT&T's consolidated revenues for the second quarter totaled 45 billion dollars, from 39 billion dollars in the second quarter of 2018, up 15%, primarily due to the acquisition of Time Warner.
The US mobile provider said it was "on track" to deliver all of its targets for 2019.
Copyright (c) 2019 CercleFinance.com. All rights reserved.