AT&T Inc. announced on Thursday that its first quarter diluted earnings per share were down by 12.3% to $0.57, compared to the corresponding trimester the year before. The company's lower-than-expected revenue landed at $30.1 billion, rising by 1.4% year-over-year.
Cash from operating activities from continuing operations stood at $6.7 billion, down nearly $1 billion year over year. However, operating income rose by 8.4% year over year to stand at $6 billion in the starting quarter of 2023, while free cash flow amounted to $1 billion.
"We're winning thanks to a proven and sustainable playbook that centers on simple, customer-centric experiences," AT&T's chief executive officer, John Stankey, said. The company's shares fell by 3.20% in premarket trading.
