The Dallas-based AT&T Inc (NYSE:T) surpass analysts’ forecasts for Q3 profit as a crimped supply of iPhone 5 gadgets lowered the need for handset discounts given to clients who sign up for contracts.
AT&T, the biggest United States phone corporation, reported in a statement on Wednesday that net income moved up to $3.64 billion or 63 cents per share, from $3.62 billion or 61 cents per share in previous year.
Bloomberg gathered data confirmed that analysts on average had forecasted 60 cents per share. Sales fell 0.1% to $31.5 billion, evaluated against the forecasts of $31.6 billion.
The telecom company added 151,000 monthly mobile contract customers, evaluated against 319,000 added in previous year.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Sprint Nextel Corporation (NYSE:S) fell -0.53% to settle at $5.62, Verizon Communications Inc. (NYSE:VZ) moved up +0.36% to end at $44.23 while America Movil SAB de CV (ADR) (NYSE:AMX) jumped +0.39% to finish at $26.05 on Wednesday.
AT&T Inc. (NYSE:T) on Oct 24, 2012 decreased -3.83% to the closing price of $34.71. The overall volume in the last trading session was 36.02 million shares. Its fifty two weeks range was $27.41 – $38.58. The total market capitalization remained at $200.24 billion.
AT&T INC is ahead of its 52-week low with 33.45% and lagging behind from its 52-week high price with -9.35%. AT&T INC’s last month’s stock price volatility remained 1.64%. In its share capital AT&T INC has 5.77 billion outstanding shares, among them 5.77 billion shares have been floated in market exchange. AT&T INC’s stock’s institutional ownership remained 56.13% while insider ownership included 0.03%.
The stock price of AT&T INC is moving down from its 20 days moving average with -5.19% and remote negatively from 50 days moving average with -5.54%. AT&T INC’s current year’s earnings per share experienced a downfall of -79.33% while its current quarter performance remained at -3.26%. Company’s beta coefficient included 0.55. Beta factors measure the amount of market risk associated with market trade.
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