Shares of telecom major AT&T Inc. (T) have gained 10.2% in price over the past month and 1.4% year-to-date to close the last trading session at $18.84. The company’s better-than-expected third-quarter results and high dividend yield helped its stock attract investors’ attention amid the current uncertain economic conditions.
Despite the challenging macroeconomic environment, T’s earnings and revenue beat Wall Street estimates for the last reported quarter. Its EPS beat analyst estimates by 10.4%, while its revenue came 0.6% above the consensus estimate. The company’s revenue declined on a year-over-year basis, but the decline can be attributed to the divestments of WarnerMedia and DirecTV.
