AT&T beat earnings and revenue expectations for the first quarter
Telecommunications giant AT&T Inc (NYSE:T) announced first-quarter earnings of 57 cents per share on revenue of $31.5 billion, both of which surpassed analysts' expectations. The company noted strong wireless subscribers growth as its costumers favored packages that bundle wireless and high-speed fiber services, and also reaffirmed its 2026 forecast.
Shares are erasing their premarket lead, however, last seen down 2.9% to trade at $25.12. The security is eyeing its third-straight daily loss and carries a 7% year-over-year deficit, though it remains above its year-to-date breakeven level. A familiar floor at the $25 region looks ready to contain today's pullback, though.
Analysts lean bullish toward T, with 17 of the 28 in coverage sporting "buy" or better ratings. Plus, the 12-month consensus target price of $29.91 is an 18.4% premium to current levels.
Drilling down to today's options activity, 37,000 calls and 37,000 puts have already traded hands so far, volume that is triple the intraday average amount. Most active is the weekly 4/24 26-stike put, followed by the June 27 call.