AT&T Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - AT&T Inc. (T) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $5.16 billion, or $0.65 per share. This compares with $7.94 billion, or $1.02 per share, in last year's first quarter.

Excluding items, AT&T Inc. reported adjusted earnings of $0.77 per share for the period.

Analysts on average had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 13.3% to $38.11 billion from $43.94 billion last year.

AT&T Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $5.16 Bln. vs. $7.94 Bln. last year. -EPS (Q1): $0.65 vs. $1.02 last year. -Analyst Estimates: $0.59 -Revenue (Q1): $38.11 Bln vs. $43.94 Bln last year.