DALLAS (AP) _ AT&T Inc. (T) on Monday reported third-quarter net income of $3.7 billion.
The Dallas-based company said it had net income of 50 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, were 94 cents per share.
The results topped Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The telecommunications company posted revenue of $44.59 billion in the period, falling short of Street forecasts. Thirteen analysts surveyed by Zacks expected $44.98 billion.
AT&T shares have risen 29% since the beginning of the year, while the Standard & Poor’s 500 index has increased 21%. The stock has increased 27% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on T at https://www.zacks.com/ap/T
The Associated Press