AT&T tops 2Q profit expectations, misses revenue forecasts

AT&T Inc. (T) on Thursday reported second-quarter profit of $3.04 billion.

On a per-share basis, the Dallas-based company said it had profit of 58 cents. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The telecommunications company posted revenue of $33.02 billion in the period, missing Street forecasts. Fourteen analysts surveyed by Zacks expected $33.09 billion.

AT&T shares have risen nearly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 2 percent. In the final minutes of trading on Thursday, shares hit $33.89, a drop of almost 4 percent in the last 12 months.

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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 http://www.zacks.com/ap/T

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Keywords: AT&T, Earnings Report, Priority Earnings