AT&T's (NYSE: T) stock rallied 8% on Oct. 20 after the telecom giant posted its third-quarter report. Its revenue from continuing operations declined 4% year-over-year to $30.0 billion, which still beat analysts' expectations by $140 million. Excluding the spin-off of its U.S. video business last July, its revenue grew 3% year-over-year on a stand-alone basis.
The company's adjusted earnings from continuing operations increased 3% to $0.68 per share, which also beat the consensus forecast by seven cents. Those headline numbers indicate AT&T's business is stabilizing in the wake of its divestments of DirecTV and WarnerMedia. But is its stock finally primed to rebound after losing nearly a fifth of its value over the past three months?
Image source: Getty Images.
Source Fool.com