Jumat, 29 Juli 2022

Is Ma Bell a Good Buy in This Market?

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Is Ma Bell a Good Buy in This Market?

Jody Chudley, Contributing Analyst, The Oxford Club

Jody Chudley

At the beginning of April, AT&T (NYSE: T) officially spun off its WarnerMedia business.

This spinoff came only a few years after the company fought tooth and nail to acquire Time Warner for $85 billion.

In completing the spinoff of WarnerMedia, AT&T has once again become a pure-play telecommunications business.

The company just released its first quarterly earnings report since the spinoff.

In the two days following the earnings release, AT&T shares dropped by 10%.

That said, there were a couple of big positive reveals in the company's earnings report.

Revenue of $29.6 billion slightly beat consensus analyst estimates of $29.5 billion.

Plus, earnings per share of $0.65 beat consensus analyst estimates of $0.61 per share.

Yet, those results were overshadowed by what AT&T said is going to happen over the remainder of the year...

Is AT&T a Buy?

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