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Mark Holder

AT&T: Q216 Quick Takeaway

After the close, AT&T (T) reported the following numbers according to

  • Reports Q2 (Jun) earnings of $0.72 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.72; 
  • Reports Q2 revenues rose 22.7% year/year to $40.5 bln vs the $40.62 bln Capital IQ Consensus. 
  • 2.1 million wireless net adds driven by connected devices, Mexico and Cricket
  • U.S. wireless postpaid churn of 0.97%, second-lowest ever
  • U.S. wireless operating margins expand; best-ever U.S. wireless EBITDA margins 

In reality, these numbers weren't that impressive, but the wireless company offers a 4.5% dividend yield. The stock trades at the highs for this reason making the quarterly results not that important. The market will continue buying the stock for the yield. 

Disclosure: No position

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