Telecom Stock Gaps Lower Despite Quarterly Beat

AT&T reported first-quarter EPS of $0.57 on revenue of $31.5 billion, both above analysts' expectations. The results indicate a solid earnings beat and better-than-expected top-line performance for the telecom giant. The update is positive for AT&T shares but is likely to have limited broader market impact.

Analysis

AT&T reported first-quarter EPS of $0.57 on revenue of $31.5 billion, both above analysts' expectations. The results indicate a solid earnings beat and better-than-expected top-line performance for the telecom giant. The update is positive for AT&T shares but is likely to have limited broader market impact.