AT&T Q1 Profit Tops Estimates; Full-Year Guidance On Track

(RTTNews) - AT&T Inc. (T) reported first-quarter net income attributable to company of $3.8 billion, or $0.61 per share, compared to $3.3 billion, or $0.63 per share, in the year-ago quarter. Adjusting for the $0.17 of costs for merger- and integration-related expenses and amortization, $0.02 of other costs and the $0.08 gain on spectrum transfers, earnings per share was $0.72, for the quarter. On average, 26 analysts polled by Thomson Reuters expected the company to report profit per share of $0.69 for the quarter. Analysts' estimates typically exclude special items.

First-quarter consolidated revenues totaled $40.5 billion, up more than 24% versus the year-earlier period largely due to the July 24, 2015 acquisition of DIRECTV. Analysts expected revenue of $40.47 billion, for the quarter.

Randall Stephenson, AT&T chairman and CEO. "We're seeing good momentum with our initial integrated wireless, video and broadband offers. And we'll expand the integrated choices for customers in the fourth quarter when we launch our new video streaming services. DIRECTV merger synergies are on track to reach $1.5 billion or better by the end of the year."