AT&T Tanks as Q1 Revenues Fall Short of Estimates

Shares of AT&T (NYSE: T) fell in pre-market trading on Thursday after the telecommunication giant reported Q1 revenues of $30.1 billion, an increase of 1.4% year-over-year but fell short of analysts’ expectations of $30.2 billion.

Adjusted earnings in Q1 came in at $0.60 per share versus $0.63 in the same period last year surpassing consensus estimates of $0.58 per share.

Overall, Wall Street analysts are cautiously optimistic about AT&T with a Moderate Buy consensus rating based on three Buys and eight Holds.