AT&T Inc. (NYSE:T) shares are trading lower after the company issued FY22 EPS guidance below analyst estimates. The company guided EPS of $3.10-$3.15, which came in below the conensus estimate of $3.21.
AT&T beat estimated earnings by 2.63%, reporting an EPS of $0.78 versus an estimate of $0.76, which did not surprise analysts.
Meanwhile, revenue was up $4.73 billion from the same period last year.
"A year and a half ago, we began simplifying our business to reposition AT&T for growth and we're extremely pleased with how we've executed on that commitment," said John Stankey, AT&T CEO. "We ended 2021 the way we started it – by growing our customer relationships, running our operations more effectively and efficiently, and sharpening our focus. Our momentum is strong and we're confident there is more opportunity to continue to grow our customer base and drive costs from the business."
AT&T has a 52-week high of $33.88 and a 52-week low of $22.02.
