AT&T Tesla Financial Highlights
AT&T (NYSE: T) Q3 earnings per share (EPS) reported at $0.64, surpassing the estimated $0.62 by $0.02. The stock surged 4% on Thursday following its impressive Q3 results.
Q3 revenue amounted to $30.35 billion, slightly exceeding the anticipated $30.2 billion consensus estimate. Adjusted EPS of $0.64 outperformed estimates by $0.02, with revenue at $30.35 billion surpassing the consensus of $30.2 billion.
The company reported $10.3 billion in cash from operating activities for continuing operations in Q3 2023, a $0.2 billion increase compared to the same period in 2022, attributed to operational growth and working capital timing, offset by lower receivable sales.
AT&T’s stock closed at $14.32, experiencing a 2.98% decline in the last three months and a 14.46% drop in the past year. Over the last 90 days, AT&T had 5 positive and 7 negative EPS revisions.
The company reported revenue of $23.35 billion and adjusted earnings of 66 cents per share, both failing to meet Wall Street’s expectations.
Tesla Stumbles more than 6%
Tesla shares plunged by over 6% on Thursday, a day following the release of their third-quarter results.
This marked the first instance of Tesla missing both earnings and revenue estimates since Q2 2019.
During the quarterly investor call, CEO Elon Musk expressed a pessimistic outlook on the global economy, citing concerns about the high interest rate environment and its impact on consumers’ car purchasing abilities.
To keep track of upcoming earnings reports, access Investing.com’s earnings calendar for updates.
