AT&T Inc (T)

[FUNMAN]

AT&T EPS beats by $0.09, beats on revenue; raises outlook • 6:39 AM

AT&T (NYSE:T): Q2 Non-GAAP EPS of $0.89 beats by $0.09; GAAP EPS of $0.21 misses by $0.43.

Revenue of $44B (+7.4% Y/Y) beats by $1.27B.

Adjusted EBITDA of $13.59B vs. a consensus of $13.74B, and free cash flow of $7.0 vs. $6.15B.

Mobility: 789,000 postpaid phone net adds; 1,156,000 postpaid net adds; 174,000 prepaid phone net adds; Postpaid phone churn of 0.69%.

For 2021, AT&T expects consolidated revenue growth of 2-3% range (prior: +1%), adjusted EPS to grow in the low- to mid-single digits on the year (Prior: flat), capex in the $17B range, and FCF in the $27B range (prior: $26B).